CBN Orders Geo-Tagging Of PoS Terminals In Nigeria
The Central Bank of Nigeria (CBN) has directed that all Point of Sale (PoS) terminals in the country be geo-tagged within 60 days to curb fraud and strengthen oversight of digital payments.
In a statement dated August 26, 2025, the apex bank said terminals operating outside their registered locations would be flagged, while non-compliant devices risk deactivation.
The policy aims to eliminate cloned or “ghost” terminals, ensure real-time monitoring, and enhance consumer protection. New PoS devices will feature native geolocation technology, with operators required to provide precise merchant coordinates.
The deadline for compliance is October 20, 2025.
#CBN #PoS #DigitalPayments
The Central Bank of Nigeria (CBN) has directed that all Point of Sale (PoS) terminals in the country be geo-tagged within 60 days to curb fraud and strengthen oversight of digital payments.
In a statement dated August 26, 2025, the apex bank said terminals operating outside their registered locations would be flagged, while non-compliant devices risk deactivation.
The policy aims to eliminate cloned or “ghost” terminals, ensure real-time monitoring, and enhance consumer protection. New PoS devices will feature native geolocation technology, with operators required to provide precise merchant coordinates.
The deadline for compliance is October 20, 2025.
#CBN #PoS #DigitalPayments
CBN Orders Geo-Tagging Of PoS Terminals In Nigeria
The Central Bank of Nigeria (CBN) has directed that all Point of Sale (PoS) terminals in the country be geo-tagged within 60 days to curb fraud and strengthen oversight of digital payments.
In a statement dated August 26, 2025, the apex bank said terminals operating outside their registered locations would be flagged, while non-compliant devices risk deactivation.
The policy aims to eliminate cloned or “ghost” terminals, ensure real-time monitoring, and enhance consumer protection. New PoS devices will feature native geolocation technology, with operators required to provide precise merchant coordinates.
The deadline for compliance is October 20, 2025.
#CBN #PoS #DigitalPayments
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