The Central Bank of Nigeria (CBN) said at the just-ended Digital Pay Expo 2023 that it is going to put out rules to make sure that mobile payments are used safely and efficiently across the country.
This is part of the central bank’s plan to update and push forward Nigeria’s cashless payment policy.
Mr. Musa Jimoh, the Director of the CBN’s Payments System Management Department, spoke at Digital PayExpo 2023 about “contactless policy and financial inclusion.” He confirmed that the Central Bank of Nigeria is in the process of finalising the guidelines that will govern and promote the use of contactless payments in Nigeria.
The CBN’s suggested guidelines for contactless payments in Nigeria are meant to make it easier for people to use this method of payment and keep it safe.
Mr. Musa Jimoh said that the top bank will add contactless payment as another tool before the end of 2023 to help with any problems that may come up when the old notes are replaced by the new ones.
He said that the guidelines would cover the technical and operational requirements for putting contactless payment systems in place and the security steps needed to protect customers’ information.
At the Digital Pay Expo, officials from the Central Bank of Nigeria (CBN) talked about the benefits of mobile payments, including the use of e-naira, as the top bank tries to get more Nigerians to use them.
Read also: Nigeria’s central bank (CBN) governor under investigation after suspension
Digital Pay Expo 2023: The Future is Contactless!
The Central Bank of Nigeria (CBN) and the National Deposit Insurance Corporation (NDIC) led an exhibition walk at the Digital Pay Expo 2023. They showed off a mesmerizing collection of cutting-edge solutions that are changing the payment industry. It was amazing to learn about the new ideas and opportunities that come with contactless payments and how they are changing the way we pay.
The exhibition showed how quickly digital payments are changing and how much progress is being made in the industry right now. It was amazing to see how these new payment solutions combined ease of use, security, and speed. They showed a glimpse of a future where transactions will be easy and quick.
Taking the exhibition tour as a whole into account, the payment business is changing quickly. Let’s look to the future of payments as we move forward and stay ahead of the curve. Together, we can create a world where transactions are easy, safe, and quick, giving companies and customers a wide range of options.
About Digital Pay Expo
Digital PayExpo promotes innovation and provides an unmatched platform for networking and collaboration. You may network with like-minded individuals, major players, industry stakeholders, and policymakers at Digital PayExpo. Join the global digital payment revolution dialogue, make meaningful contacts, and explore business prospects.
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