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Cash-less: Skye Bank to install 15,000 PoS

By on April 22, 2013

Ahead of the expansion of the cash-less policy to some states other than Lagos State, Skye Bank Plc has concluded arrangements to roll out some 15,000 points of sale terminals in the states covered by the second phase of the policy.

The Central Bank of Nigeria had recently announced that by July this year, the cash-less policy would be extended to states such as Ogun, Anambra, Rivers, Abia and the Federal Capital Territory, Abuja after a successful pilot test in Lagos.

A statement by the bank on Friday quoted the Group Head, E-Channels, Skye Bank, Mr. Chuks Iku, as saying that the bank had deployed about 7,000 point of sale terminals in Lagos State alone, adding that another 8,000 units would be deployed in the next phase of the rollout.

To ensure the success of the exercise, Iku said branches of Skye Bank in Kano and the FCT had been trained and consequently commenced customer education in relation to how PoS could be used, providing product knowledge and creating awareness about the policy and other payment channels.

He said the awareness exercise would commence in other states ahead of the roll out.

He said, “The bank’s staff in the states which would be covered under the second phase are undergoing training to ensure that they treat customers’ issues proactively and professionally to make the exercise a success.”

He listed some benefits of the new cash-less policy as safety of transactions, convenient payment arrangement, security and flexibility, among others, saying it would boost trade and commerce.

Iku urged members of the public in those states not to resist the cash-less policy but embrace it as its benefits were numerous.

According to him, carrying cash has become very dangerous and unsafe.

The CBN had come up with the cash-less policy in 2011 as a strategy for changing the economy from the cash–based to an economy thriving on electronic payment systems and funds transfers.

In January 2012, the pilot scheme took off in Lagos and has been adjudged to be successful in view of the reduction in cash-based transactions.


( Punch)