2020-05-31 | PSMD/31/05/2020

Guidelines on Operations of Electronic Payment Channels in Nigeria

The Central Bank of Nigeria (CBN) has issued guidelines for electronic payment channels in the country, covering automated teller machines (ATMs), point-of-sale (POS) card acceptance services, mobile POS (mPOS), and web acceptance services. These guidelines aim to promote efficient and secure electronic payment systems, with specific standards and requirements for each channel. Compliance with these guidelines is mandatory for all stakeholders, including banks, merchants, cardholders, and card schemes, with penalties for non-compliance.

Nigeria

Central Bank of Nigeria

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