eTranzact Limited, a leader in electronic payments, has launched an SMS-based Point of Sale (PoS) terminal for mobile payments in Nigeria, enabling users in the country to enjoy real-time payment facilities.
E-payment systems have witnessed slow uptake in Nigeria, with stakeholders claiming telecommunication links pose a major challenge to its adoption.
According to Valentine Obi, managing director of eTranzact, the company is out to change this since the PoS device will be deployed in all the merchant locations beginning early next month.
“The deployment of the PoS running on USSD access channel is meant to provide alternative platform for consumers making purchases at merchant locations who could not use PoS that accept cards because of network challenges,” Obi said.
The current PoS being used in many merchant locations in the country is the general package radio service (GPRS) technology.
According to a report, there were about 100,000 PoS terminals in various merchant locations in Nigeria as at September 2012. Despite the high number, very few transactions take place using this payment mode.