E-payment transaction volume falls 9.2%, value rises to N1,053trn

Electronic payment transactions via six channels recorded a 2.85% year-on-year increase in value to N1.053 quadrillion in the first quarter of 2026, from N1.024 quadrillion in the same period of 2025. However, transaction volume across these channels fell by 9.19% year-on-year to 12.57 billion in Q1 2026 from 13.84 billion transactions in Q1 2025. The six channels are cheque, Automated Teller Machine (ATM), Point of Sale (POS), Web Pay (Internet), Mobile Pay, and Nigeria Instant Payment (NIP). The development indicates an increase in the average amount involved in individual transactions despite the decline in the number of transactions.

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