CBN outlined that acquirers must now route all PoS transactions from merchant and agent locations through a CBN-licensed PTSA.
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This directive extends to both physical and electronic PoS terminals. PoS transactions are to be handled only via processors certified by the CBN and nominated by acquirers. To ensure compliance, PTSPs are required to submit monthly returns to the CBN, detailing the number of merchants and agents they manage, as well as their PoS terminal deployment and the volume of corresponding transactions. The report is expected to reach the CBN no later than seven days after the end of each month.Support journalism driven by facts, created by Nigerians for Nigerians. Our thorough, researched reporting relies on the support of readers like you.
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