The use of mobile banking services, ATM, POS & other Mobile money services has increased tremendously in recent times in Nigeria owing to the digitalization of financial operations
In this #threadstorm, I'll explore some of these services.
The use of mobile banking services, ATM, POS & other Mobile money services has increased tremendously in recent times in Nigeria owing to the digitalization of financial operations
In this #threadstorm, I'll explore some of these services.
Automated Teller Machine
In the case of the ATM, there’s opportunity for withdrawal of cash from one’s account & transfer of cash to another’s account using your unique ATM card. With it, you can make cash related transactions
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Yes, am doing it regularly and it has helped me too though charges. But I prefer it than going to bank in some cases
The presence of the Point of Sale (POS) operators have aided to reduce the limited presence of ATM stalls within communities, and make transactions faster and less burdensome.
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I can call them to come to my office for transfer when I have more customers that want to use ATM card for payment
Some other digital financial services were also founded to perform similar functions with mobile banking (as a digital wallet) + to respond to the restrictions on international transactions on the Naira cards which is capped at $20.
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I appreciate the work they are doing now
Quickteller is one of the oldest digital wallets in Nigeria. Along with making quick sending, receiving of money and paying utility bills, it can also process Western Union Transactions.
Opay is a very popular digital wallet, but..
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Opay is becoming more popular than some of them
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It is limited to Nigeria alone?
With the QR code (Quick Response Code), users are required to scan the barcode with their mobile and other related devices, and, with this, individuals can make financial transactions quickly via their mobile wallets.
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Technology is making so many things possible to acc6.
well, you can say fintech has done a lot for the financial industry in Nigeria. However, a lot is still yet to be done in terms in terms of facilitating international transactions.
I also think the QR code of Opay transactions is limited to Only Opay to Opay as well. Plus, world-wide Opay is still not functional worldwide. I'd like to see them do so. I believe Virtual banks like Opay have futuristic potentials
Let's dig deeper . Because it is increasing daily