Periods like this, it's a norm for all these to happen. Our banking industry is improving, but we still aren't there yet. I work in a bank, and trust me, I have all I need to spend throughout the festive in cash. No mobile transaction till January.

However, POS transactions are quite complicated. To start with, for successful POS transactions, the merchant won't get the fund till the next day, so it's always difficult to ascertain where the money is. Lots of processes are involved in getting POS reversals, unlike ATM, where this takes just fee minutes, hours or days.

Away from this, Merry Christmas fam...

Yes oh even mine, I'm so pissed right now,mine got declined twice but I got debited twice.no extra cash on me to flex this Christmas.

Icon4s:
I experienced it yesterday morning. Receipt showed "transaction declined" on two attempts. Only for me to get double debit alerts hours later.

But was reversed later in the evening

I'm yet to get my money back from them oh,was it access you used?

GTB...I reserve my comment. My 10k will come out once I become on your case!

This country continues to fail badly in the simplest things... If not sabotage, how can ATMs and POS services be crippled on the days when the highest profits and revenues are to be generated??! Same thing happened last year, with this year being far worse.
I still don't get the grounds on which APC demands re-election... What sector is truly at its optimum

Foolish people didn't mention the high rate of failure experienced on the instant fund transfer platform?

HgsMediaPlus:
About 25 per cent of Point of Sale transactions conducted by customers on Christmas Eve were not successful according to records from the Nigeria Inter- Bank Settlement System Plc .

As of 8. 13 pm on Monday, the NIBSS revealed that a total volume of 1 ,107 ,229 transactions were conducted with an average processing time of 15 minutes , 49 seconds .

It disclosed that the failed volume was 276, 852, which was 25 per cent of the total volume.

The NIBSS is a financial sector that provides the mechanism for same day clearing and settlement of inter -bank transfers and payments
It was set up by the Bankers Committee as a shared - service infrastructure for facilitating payments finalities , streamlining inter - bank payments and settlement mechanisms , to drive and promote electronic payments across the Nigerian financial industry .

Continue Reading: https://www.hgsmediaplus.com.ng/2018/12/276852-pos-transactions-failed-on.html?m=1

Segtobi:
Periods like this, it's a norm for all these to happen. Our banking industry is improving, but we still aren't there yet. I work in a bank, and trust me, I have all I need to spend throughout the festive in cash. No mobile transaction till January.

However, POS transactions are quite complicated. To start with, for successful POS transactions, the merchant won't get the fund till the next day, so it's always difficult to ascertain where the money is. Lots of processes are involved in getting POS reversals, unlike ATM, where this takes just fee minutes, hours or days.

Away from this, Merry Christmas fam...

There is absolutely nothing normal about it... Please, stop glorifying mediocrity!!!... Mistakes are meant to be pointers for improvements. This is why we continue to retrogress as a nation...

Nigerian Banking Industry is a glaring embarrassment to us and the world as a whole... You think it is only POS? Don't even get me started.

:湥 潴昣昸.

justscorchone:


I'm yet to get my money back from them oh,was it access you used?

First Bank

Out of that very statistics I think I tried like 100plus yet economy bank app just kept making me look like a novice, even as I Don price finish, arrange my items the thing got to a point when the seller begin reason say am not genuine, even their ATM no cash in it........


Eco bank disappoint me

yjgm:
This thing happen every yuletide season and they won't do much about it. Maybe , just maybe there is something they gain from it.

This happens as a result of high traffic of transactions. Its beyond their control, unless they put in place a super server that can handle high volume of traffic and is very very expensive. It advisable that as one approaches a major public holiday, withdraw as much as possible and do your transactions in cash...

HgsMediaPlus:
About 25 per cent of Point of Sale transactions conducted by customers on Christmas Eve were not successful according to records from the Nigeria Inter- Bank Settlement System Plc .

As of 8. 13 pm on Monday, the NIBSS revealed that a total volume of 1 ,107 ,229 transactions were conducted with an average processing time of 15 minutes , 49 seconds .

It disclosed that the failed volume was 276, 852, which was 25 per cent of the total volume.

The NIBSS is a financial sector that provides the mechanism for same day clearing and settlement of inter -bank transfers and payments
It was set up by the Bankers Committee as a shared - service infrastructure for facilitating payments finalities , streamlining inter - bank payments and settlement mechanisms , to drive and promote electronic payments across the Nigerian financial industry .

Continue Reading: https://www.hgsmediaplus.com.ng/2018/12/276852-pos-transactions-failed-on.html?m=1

Are nibbs and interswitch not both complicit most of the time

NextGovernor:
My #812,000 is on pending in Access bank. Debited multiple times on different POS machines and the transactions never went through. Na me and them on Thursday.

Chai Next Governor if Only God fit touch you mk you bless with small Change mk I use celebrate new year ..DEM SAY ASK IF u need help na wetin I just do.Mk person no judge me if u can't help .Thanks Baba.

joyfullyjoyous:
Mobile transfer was a herculean task too. It took about 30 minutes before I could send money to someone through my phone.

Hmm... Oya send me money too for Xmas gift

NextGovernor:
My #812,000 is on pending in Access bank. Debited multiple times on different POS machines and the transactions never went through. Na me and them on Thursday.

Did you do that in two days? The maximum you can do is n500,000

handsomeyinka:
Na so I wan buy my Christmas chicken yesterday when the chicken seller told me to swipe my card, I just saw the chicken smiling.

�����

Yeah, had lunch at the Rhapsody or whatever it is called at Alausa yesterday and all the cards failed. Had to empty my pockets.... just embarassing.

Angelfrost:


There is absolutely nothing normal about it... Please, stop glorifying mediocrity!!!... Mistakes are meant to be pointers for improvements. This is why we continue to retrogress as a nation...

Nigerian Banking Industry is a glaring embarrassment to us and the world as a whole... You think it is only POS? Don't even get me started.

I get what you're saying. These mistakes have always been there, which we all know. The regulators of the sector are doing their best to improve things, though we expect more. But since we're still a long way from there, we just have to make do with what we have.

It irks me (just as much as you) when people complain about this, because they go to the branches to slug it out with people who can do little or nothing about it, and reversal gets delayed.

I'm not glorifying mediocrity, but since we're not there yet, we have to see where we are as a growing process, and this is a norm for us.

I'm one of them. Freaking annoying and customer care said it will take 10-12 days before I get a refund

I came back from work yesterday night only to find out that my prepaid meter has finished. The way i jet out even though its after 7pm,to recharge no be small thing unfortunately for me the 3 places i do recharge have all closed,damn how on earth am i supposed to sleep and wake up without electricity on christmas day. I had to improvise,i called one of the agents and told her i am coming to her house,that she should send me her address,i am ready to spend any amount on transport just to have electricity at home tonight She fear oh,she had to describe a place to me,luckily they were not closed yet. I recharge my card,with joy i went back home and quickly put it in the meter,thank God there was light. I used POS and it was successful

I learnt my lesson last year, so this year I went to the bank on the 20th of December and withdrew enough cash to last up to the first week of Jan...

wetin concern me and failed transactions

handsomeyinka:

Lol......we dey same level bro....Merry Xmas.

Lobatan I'm female o ejo sir

udysweet:
Lobatan I'm female o ejo sir

Lol...xmas wine stuff.

Two kini?

Viking007:
First bank is on another level of failure. You can't carry out any transaction via the app for almost two weeks.