POS Operators to Suspend Services over Exclusivity Practice

POS operators to suspend services over exclusivity practice

The Association of Point of Sale Service Providers {POS} may suspend and cripple banking operations in the Country if The Central Bank of Nigeria and the FCCPC fail to immediately intervene in the alleged exclusivity practice by two companies. The Association made the disclosure in a statement signed by Yomi Idowu, Communications Consultant to the Association. According to Idowu, the POS operators have written a letter to protest the alleged per…

Exclusive: Disruption Looms in Financial Sector as Payment Firms Threaten to Suspend Verve Transactions

The Association of Point of Sale (POS) Service Providers, a coalition of payment firms, has threatened to suspend the acceptance, acquisition, processing and switching of Verve card transactions over “unlawful conduct” by Verve International and Interswitch Limited. The threat is in protest of what the association described as illegitimate activities by both firms, according to a letter seen by TheCable and addressed to the managing directors of…