PoS Innovation Summit 3rd Edition holds in Lagos

The third edition of the Point of Sale (PoS) Innovation Summit, a quarterly event aimed at reinforcing acceptance of PoS as an alternative means of payment in Nigeria, is scheduled to hold at the Wheatbaker Hotel, Ikoyi, Lagos on Tuesday, 27th of March, 2018.
The PoS Innovation summit, which is fast becoming the agenda setting platform for the PoS payment sector, brings together stakeholders in the PoS value chain to discuss and strategize in a bid to explore opportunities and improve service delivery in the PoS business sector of the Nigerian payment system. It is focused on advancing a cashless payment system in the country through insights, shared wisdom and experiences.
The theme for this edition, ‘Deepening Financial Inclusion Through Agency Banking’, will highlight the roles and contributions of agency banking in breaking the financial inclusion challenge, using PoS terminals as a platform.
Keynote speakers and participants that will bring their wealth of experience to bear to chart a way forward in the financial inclusion initiative include Niyi Ajao, Executive Director, Nigeria Interbank Settlement Systems; UzomaNwagba, CEO, Government Enterprise and Empowerment Program, MarketMoni, Bank of Industry; Temitope Akin-Fadeyi, Head, Financial Inclusion, Central Bank of Nigeria; and Tunde Ogungbade, Managing Director, Global Accelerex Ltd.
Majority of Nigerians in rural areas lack access to financial services. Traditional banks are also handicapped in expanding their operations as vast non-urban regions often lack the legacy infrastructure to enable fast deployment of financial products and services. The promotion of agency banking is one of the principles adopted by the Central Bank of Nigeria (CBN) and commercial banks to take banking to the grassroots.
Against the backdrop of a large percentage of unbanked adult population in Africa’s developing regions, there is a need for banks to use agents to reach the financially excluded. The CBN’s introduction of agency banking is aimed at connecting rural dwellers to financial services for wider inclusion in the financial net.The PoS terminal has proven to be the most vital tool in the hands of agents and their network in advancing the financial inclusion campaign to the underserved markets.
The PoS Innovation Summit is renowned for its invaluable contributions towards the growth and acceptance of the PoS channel in the nation's fast growing financial industry, increasing efficiency and service delivery of PoS services across the country.

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