Gist: Cashlite Policy: Get some Cashbacks when you use the POS ~ Smiles  (Read 1368 times)

0 Members and 1 Guest are viewing this topic.




As the cashlite policy of the Central Bank of Nigeria (CBN) goes nationwide in June this year, banks’ customers across the country would  be getting incentives for using point of sale (POS) terminals.

The incentives, which would  come as cashback on purchases paid for through POS, would  be courtesy of banks and the Nigeria Inter Bank Settlement System (NIBSS).

According to the chairman of the committee of e-Banking Industry Heads and Group Head of E-Channels at Skye Bank, Chuks Iku, banks’ customers would  get back 40 per cent of the 1.25 per cent that merchants are charged on POS usage.

Iku noted that, “the committee and all member banks have partnered with the Nigerian Inter Bank Settlement System (NIBSS) for an incentive scheme for members of the public whereby cash back rewards are given to card holders for using their cards to make payments on alternate channels.”

- Channels - Leadership


 

Related Topics

  Subject / Started by Replies Last post
2 Replies
3418 Views
Last post March 05, 2013, 07:39:06 PM
by clowntom
0 Replies
637 Views
Last post May 21, 2013, 10:06:09 AM
by dayod247
0 Replies
3143 Views
Last post August 19, 2013, 04:24:29 PM
by flukky01
0 Replies
1273 Views
Last post June 25, 2014, 10:58:46 AM
by flukky01
0 Replies
517 Views
Last post July 21, 2015, 07:00:44 PM
by olutee
0 Replies
877 Views
Last post November 11, 2015, 01:02:07 PM
by linda
0 Replies
168 Views
Last post November 14, 2016, 07:03:13 AM
by olutee
0 Replies
47 Views
Last post December 21, 2018, 07:13:51 AM
by thenation
0 Replies
119 Views
Last post April 26, 2019, 07:02:44 AM
by PulseNG
0 Replies
43 Views
Last post June 16, 2019, 01:06:23 AM
by thenation