I've been watching Nairametrics TH-cam for sometime now. And I just have to say that whoever is in charge of the content process and creation should be given a raise immediately. If you know about production, you can tell they're trying to create something out of nothing. This is an engaging episode of paid in full. I also see your background set effort guys! 😂 love it 😊
Educative content.. The host saying using pos over atm is "more expensive but convenient" goes against what he said earlier about trying to meet or cater for the low class nigerian citizens.. not everyone can afford to pay the fees/buying back their own money... Atm should still be in operation and pos too. More choice for the people to pick from.
Good video. Very interesting and true. Nigeria is unique and cash will be king for a long time. The fintechs meet the need of the people. My only criticism is that the speaker doesn't address the issue of fraud and money laundering linked to POS operators. POS is a cornerstone of the 'local' cash out and it's a growing problem not a shrinking one.
The FinTechs perfected the Technology and optimized the system before the Traditional Banks woke up. Traditional Banks are generally distracted by other Financial activities.
I also think the convenience of POS is mostly in the proximity of the operators. And that eliminates the cost of transportation to the nearest ATM or the Banks. Overall reduction in the cost of getting your money out of your account if thoroughly evaluated.
This is quite mysterious, how will total atm machines through out the federation be just 20000? 😅😅😅😅 Profiteering of banks and racketeering of some of their staffs also contributed to it.
Unlike what this interview is trying to make it sound like, POS adoption is an expensive solution to a problem, which is the scarcity of cash inflicted by the CBN/Banks (as you said paying out limited amount). Nigerians didn't just wake up and choose to fall in love with POS. It was a need. Just another extortionate bottleneck between Nigerians and THEIR cash.
I've been watching Nairametrics TH-cam for sometime now. And I just have to say that whoever is in charge of the content process and creation should be given a raise immediately. If you know about production, you can tell they're trying to create something out of nothing. This is an engaging episode of paid in full. I also see your background set effort guys! 😂 love it 😊
This is one of the most educative topic, really needed to be discussed.
Educative content..
The host saying using pos over atm is "more expensive but convenient" goes against what he said earlier about trying to meet or cater for the low class nigerian citizens.. not everyone can afford to pay the fees/buying back their own money...
Atm should still be in operation and pos too. More choice for the people to pick from.
This problem is bigger than Nigeria as a whole. Rather than seeing it as a problem, let's see it as a solution indeed
👏🏾 Interesting!
Good video and we need more like this 🎉❤
Great insight... I love this!
Even in Lagos, the whole of Ijede road in Ikorodu, there used to be only four ATM locations. Now it's only two
Good video. Very interesting and true. Nigeria is unique and cash will be king for a long time. The fintechs meet the need of the people.
My only criticism is that the speaker doesn't address the issue of fraud and money laundering linked to POS operators. POS is a cornerstone of the 'local' cash out and it's a growing problem not a shrinking one.
The FinTechs perfected the Technology and optimized the system before the Traditional Banks woke up. Traditional Banks are generally distracted by other Financial activities.
I also think the convenience of POS is mostly in the proximity of the operators. And that eliminates the cost of transportation to the nearest ATM or the Banks. Overall reduction in the cost of getting your money out of your account if thoroughly evaluated.
Staffs seldom fraud the business with cash back
This is quite mysterious, how will total atm machines through out the federation be just 20000? 😅😅😅😅
Profiteering of banks and racketeering of some of their staffs also contributed to it.
Unlike what this interview is trying to make it sound like, POS adoption is an expensive solution to a problem, which is the scarcity of cash inflicted by the CBN/Banks (as you said paying out limited amount). Nigerians didn't just wake up and choose to fall in love with POS. It was a need. Just another extortionate bottleneck between Nigerians and THEIR cash.