The Nigeria Interbank Settlement System on Thursday said electronic financial transactions declined in January 2016.
The company said in a data released and posted on its website that electronic payment included fund transfers through mobile, Instant Payment and transactions through Point of Sale terminals.
The data showed that the volume of mobile transactions had dropped significantly from 134.49 million in December 2015 to 121.94 million transactions in January 2016.
According to the data, the December figure was also lower compared to the 146.20 million financial transactions carried out in November 2015.
It said year on year, 2016 January’s mobile transaction figure was better than January 2015, which recorded 51.68 million transactions.
The data showed that value of transactions, however, rose slightly from N4.2 billion in December 2015 to N4.3 billion in January 2016.
NIBSS said the volume of transfers done via the NIP dropped from 8.33 million in December 2015 to 7.2 million by the end of January 2016.
It said year on year, the volume of NIP transfers improved by 72.6 per cent when compared to January 2015 transaction figure of 4.24 million.
The data reviewed that instant payment transfers value also dropped slightly from N2.39 trillion in December 2015 to N2.38 trillion.
It added that Point of Sale transactions volume was also down to 3.59 million at the end of January 2016.
NIBSS said the volume of PoS transactions for December 2015 stood at 3.94 million as against January 2015 figure of 2.26 million.
It said that transaction recorded via PoS in January 2015 stood at N46.65 billion compared with the N31.79 billion recorded in December, higher than N31.79 billion spent in corresponding period of 2015.
NAN
