Guideliness for Contactless Payment Systems will be Released by the CBN.

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According to the Central Bank of Nigeria (CBN), guidelines will soon be released to encourage the effective and safe usage of contactless payments throughout the nation. The apex bank claims that this is all a part of its efforts to modernize and advance Nigeria’s cashless payment policy.

Prepaid debit and credit cards, stickers, keychains, wearable technology, tokens, and mobile electronics devices are some of the tools that will be utilized for contactless payments.

Adefuye listed various advantages of contactless payment, such as simplicity of payments, quickness, and convenience of consumers utilizing their phones for in-person transactions, and said that this would improve customer experience. When asked about the top bank’s plans for getting rid of the old naira notes and making new ones available,

Sunnews.

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