Nigeria Inter-Bank Settlement System (NIBSS) has disclosed that payments made via electronic systems rose by N576.41 billion year-on-year in the country.
The data disclosed that N2.63 trillion was spent on e-bills from January 2022 to November 2022, a 28.14 percent increase from the N2.05 trillion that was spent in the corresponding period of 2021.
While the value of e-bills pay rose significantly in 2022, volume fell by 31.99 per cent from 841,796 in the 11 months of last year to 1,111,087.
According to the NIBSS, e-bills are daily bill transactions that are accessible and seamless.
“E-BillsPay is an electronic bill payment platform that facilitates the payment of bills, fees, levies, premiums, and subscriptions, etc. by the banking public through electronic payment channels provided and managed by banks,” the NIBSS said.
It added that the touch points for these payments include bank branches, Internet banking, mobile banking, USSD, and agent networks popularly known as POS agent services.