Rising POS transactions failure worries our customers-AMMON
The Association of Mobile Money Operators of Nigeria (AMMON) has expressed concern over the recurrent failure of Point of Sales POS transactions in the nation.
The Association said about 50 per cent of their members’ customers have experience transactions failure on POS in Kano recently saying the situation is dwindling customer trust with POS agent.
The chairman of the association in Kano State, Alhaji Salihu Ali Umar disclose this at a news conference in Kano on Wednesday over the rising issue of failure of a transaction by POS agents.
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He said, that in most cases, when the transactions on POS terminals fail and money is deducted from the customer’s account, banks debited and the transactions are mostly not reverted.
Umar added that despite the assurances of automatic reversal within a maximum of 14 working days given to their customers, whenever there is a failure of money transaction from POS but it takes Banks about a month to get a refund.
‘’Transactions on POS terminals in the country have consistently recorded a high failure rate above 15 per cent in the past one month,’’ he added.
He lamented that POS agents have only an authority to pay Customers when it shows approval as they cannot pay when it shows decline or failure.
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