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Nairaland Forum / Nairaland / General / Business / Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions (11931 Views)
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Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by GisterBlogger: 6:41am On Aug 22, 2018 |
GISTMORE.COM Bank customers experienced 278,966 failed electronic payment transactions on the Nigeria Interbank Settlement System Instant Pay platform on Tuesday. The NIP, an online real-time product that facilitates instant payment of bills on accounts, as of 5.40pm on Tuesday, recorded a total volume of 5.43 million transactions, according to live updates provided by the NIBSS. Analysis of the live electronic payment data indicated that a failure rate of 5.15 per cent was recorded on the platform. The NIP has been adjudged as the most preferred platform for electronic payment having grossed more transactions in monetary terms than the National Electronic Funds Transfer, Point of Sales and e-Bills Payment over the years. The statistics also showed that PoS transactions carried out by retailers in the country also had a high failure rate of 11.41 per cent as of 5.40pm on the same day, out of a total transaction volume of 569,838. The live updates showed that the volume of failed transactions on PoS stood at 65,064 at the same time. On Tuesday, being the first day of the Eid-El-Kabir celebration, the NIP recorded the highest volume of transactions at 105,849 by 12.20pm, while electronic payment on PoS peaked at 10.10am, recording a volume of 10,721. Data on the e-payment platform efficiency showed the destination banks for electronic payment contributed the most to failed NIP transactions between July 20 and August 10, 2018. For the 21 days under review, the data indicated that the NIBSS platform had not in any way contributed to the failed NIP transactions, while the contribution of the customers to declined transactions had remained stable at 0.1 per cent. Stakeholders in the industry have attributed the high rate of failed transactions on PoS to poor network and payment systems that use multiple SIM cards, while WiFi, or Local Area Network have been developed to address this. Commenting on the factors responsible for the failed transactions, the Head, Corporate Communications, NIBSS, Lilian Phido, recently said that unsuccessful transactions could be traced to network issues in the banks, insufficient funds in the customers’ accounts or problems on the NIBSS platform. She stated, “There are many parties associated with a typical transaction. The bank, customers and the NIBSS are involved. If the customer doesn’t have money in his or her account, or the account is lean, the transaction will fail. “If the bank is having network issues, the transaction will fail at that moment. If the NIBSS platform is down, then the platform will not work in all the banks, not just one bank. This is very rare because it means the platform will not work in any of the banks.” https://www.google.com/amp/s/punchng.com/sallah-banks-recorded-278966-failed-instant-pay-transactions/amp/ 2 Likes 2 Shares
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Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by Exwizard: 6:52am On Aug 22, 2018 |
No wonder my 30k was among...foolish people they left me broke since Monday 19 Likes |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by MANNABBQGRILLS: 7:09am On Aug 22, 2018 |
That is MASSIVE! We wonder how many relationships will be on the brink of collapse since yesterday with ALL these failed transactions!! Naija babes, biko, make una understand with una bobos as una don see dis news now o! No be dem fault, Biko!! 16 Likes 4 Shares |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by MANNABBQGRILLS: 7:09am On Aug 22, 2018 |
Exwizard:So sad. Sorry! We know that feeling! Person go just dull for house! No vex man! 3 Likes 1 Share |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by pawesome(m): 7:10am On Aug 22, 2018 |
And GTB just instantly deducted my 50k that it was a blocked transaction... Gimme back and they are busy giving me that 24hrs waiting nonsenseeeee.... What happened that there was a blocked transaction?.. They kuku no fit talk 3 Likes 1 Share |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by kullozone(m): 7:12am On Aug 22, 2018 |
UBA debited my account too oh! I jus dey laff them because e don tey wey I cause wahala... Make I reach the bank fess, una go see my action video for NL. Full movie 20 Likes 1 Share |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by Sunnick(m): 7:12am On Aug 22, 2018 |
Data Analyst u guys got a lot of work on Thursday 5 Likes |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by ijemishkisic(m): 7:13am On Aug 22, 2018 |
They should always prepare before every festive season, bud sadly they don't. |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by CodeTemplar: 7:15am On Aug 22, 2018 |
Nigerian factor. 2 Likes |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by Suko110(m): 7:16am On Aug 22, 2018 |
To withdraw your money wen u need to enjoy nah problem for this country. Chai 3 Likes |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by omenziate(m): 7:16am On Aug 22, 2018 |
But there was system/connection downtime on NIBSS platform on Tuesday at about 5.30pm na . Them wan Dey blame banks?? |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by Dollabiz: 7:18am On Aug 22, 2018 |
hmmm |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by Nobody: 7:19am On Aug 22, 2018 |
Even the money I'm supposed to use to buy goods on Thursday, is it not better to save your money in a hole in your room than leave them in banks at least the funds will be accessible anytime |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by footballflaver: 7:19am On Aug 22, 2018 |
what a whooping figure
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Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by easynetsms(m): 7:24am On Aug 22, 2018 |
Ok |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by dingbang(m): 7:24am On Aug 22, 2018 |
First bank has agents across the country, visit a first monie agent in your neighborhood for your transactions. To become a first bank monie agent, visit the nearest first bank branch to you for on boarding. Meanwhile, esteemed first bank customers, y'all can now perform wonderful transactions on the first mobile app, please click the link on my signature for more details on how to register, thanks . |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by DeeCherry(f): 7:24am On Aug 22, 2018 |
Exwizard:. Me sef follow join o! My 60k plus deh hang between Slot and GTB....money wey I wan take buy phone. I've been told to wait for 5~8 working days to get my money. 1 Like |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by poseidon12: 7:36am On Aug 22, 2018 |
skarlett: Great idea, until armed robbers pay you a visit. Or some bad family member discovers that hole. |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by grandstar(m): 7:38am On Aug 22, 2018 |
dingbang: I use First Bank mobile and it's crap. I've not been able +o send money since Monday. If not for GTB, I for see shege First Bank sucks for instant payment 4 Likes |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by Vanityupnvanity(m): 7:40am On Aug 22, 2018 |
Fidelity Bank, oya!!!. my 10k |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by letsfarmnigeria: 7:46am On Aug 22, 2018 |
really serious |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by hopexter(m): 7:50am On Aug 22, 2018 |
kullozone: Let me know if you need back up for the wahala. Nothing dey ever work well for naija. |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by CosmicJames(m): 7:53am On Aug 22, 2018 |
Another factor responsible is NEPA ! Power failure |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by Ahmedie28(m): 7:56am On Aug 22, 2018 |
My all salary has trapped in this nonsense shit, couldn't enjoy my sallah, no meat . |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by miniziter(m): 8:00am On Aug 22, 2018 |
The topic should be talking about Tuesday and not Monday. I am a POS merchant and I know what am saying. 1 Like |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by Femeto: 8:01am On Aug 22, 2018 |
My 10k dey GTB since Monday evening and I planned to use it for Salah.These Banks are getting worse by the day. |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by dingbang(m): 8:03am On Aug 22, 2018 |
grandstar: Femeto: 1 Like |
Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by wezzyjasified(m): 8:14am On Aug 22, 2018 |
First bank has agents across the country, visit a first monie agent in your neighborhood for your transactions. To become a first bank monie agent, visit the nearest first bank branch to you for on boarding or if you're anywhere in Ibadan, you can call this number (07033646668) or visit First Bank molete branch. FirstMonie.,… Closer and Simple
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Re: Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions by Nobody: 8:21am On Aug 22, 2018 |
post=70495926:. lol |
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