ePayment transaction value jumps 51% YoY
By Jeph Ajobaju, Chief Copy Editor
Electronic payment (e-payment) transaction volume grew 14.8 per cent year-on-year to 1.06 billion in first 11 months of this year (11M 2022) from 922.65 million in 11M 2021, and value rose 51 per cent to N42.5 trillion from N27.9 trillion.
The latest e-payment data released by the Nigeria Interbank Settlement System (NIBSS) shows mobile transfers had the highest growth in both volume and value.
Mobile transfer volume rose 180.6 per cent to 87.8 million in 11M 2022 from 31.28 million in 11M 2021. Mobile transfer value notched 43 per cent to N2.1 trillion from N957.4 billion.
NIBSS Instant Payment (NIP) transaction volume increased 53 per cent to 492.2 million from 319.9 million, and value 48 per cent to N38.95 trillion from N25.9 trillion.
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PoS, e-bills
Point of Sale (PoS) transaction volume jumped 2.2 per cent to 86.78 million in 11M 2022 from 84.9 million in 11M 2021, and value 35 per cent to N759 billion from N560 billion, per Vanguard.
E-bills transaction volume dropped 36 per cent to 54 million from 85 million but value rose 4.0 per cent to N213 billion from N204 billion.
CentralPay transaction volume slipped 79 per cent to 4.6 million from 22 million, and value 46 per cent to N97.8 million from N183 million.
Automated Direct Debit transaction volume slashed 32 per cent to 1.39 million from 2.07 million, but value rose 22 per cent to N176.6 billion from N215.7 billion.
Cheque transaction volume declined 11 per cent to 335.8 million in 11M 2022 from 377.5 million in 11M 2021. Its value dipped 0.7 per cent to N279.8 billion from N281.8 billion.
