- Invests N350m to provide POS terminals
From Noah Ebije, Kaduna
Paynacle Digital Services limited, a financial organisation, has concluded arrangement to invest N350 million
in establishing 1000 Point of Sales (POS) terminals across Kaduna State, particularly in rural areas.
The organisation said it is committed to providing inclusive digital financial literacy and Services to one million rural
market traders in Kaduna State to enable the State to meet the 95 percent Central Bank of Nigeria (CBN) financial inclusion target by the end of January 2024.
In her welcome address at the launching of Digital Kiosk on Tuesday, the Chief Executive/Managing Director of Paynacle, Bilkisu Ahmed Abdu, said the digital kiosk is innovated with the sole aim of solving the problem of rural areas in digital financial services.
Abdu noted that it is only in Kaduna State that over 2.1 citizens have no access to financial services and literacy, adding that the state government support was encouraging in setting up operations and bring innovative solutions to the people of Kaduna State.
In his remarks, the financial controller, CBN, Kaduna branch, Mohammed Aminu said, “We at the CBN, don’t joke with financial inclusion and financial technology because we believe that is the only way we can get our country out of financial predicament. We know very well what we suffered in time immemorial on our payment system.
“You will all agree with me that the payment system we are having now has improved tremendously from what we used to have before. This is not just happening out of the blues. Some people are not sleeping, they are trying day in, day out to ensure that our payment system is competing internationally. And to some extent, I will assure you we are achieving that.”
According to the Chief Executive/Managing Director of Paynacle, “Our company distributes POS machines across the 23 Local Government Areas of the state. This is in response to Kaduna State the recently signed Executive Order on Financial Inclusion in Kaduna State by Mallam Uba Sani and a testament to our commitment to empowering businesses and individuals with easier and more secure payment solutions.
“As part of this initiative, we will be investing 350 million naira in establishing 1000 POS terminals across the state. According to statistics, in only Kaduna State over two million one hundred thousand have no access to financial services and literacy.
“We are committed to providing inclusive digital financial literacy and services to one million rural market traders in the state to enable Kaduna to meet the 95 per cent Central Bank of Nigeria (CBN) financial inclusion target by the end of January 2024.
“Digital Kiosk not just an ordinary kiosk but a solar powered kiosk that is designed based on research and innovation to address the challenges associated with the issues surrounding the financial inclusion of unserved and
underserved communities and will provide services just like a mini bank.
“It comes with a 3G/4G modem, laptop, NIMC device, BVN enrollment device, POS, and smart android phone to provide services like account opening, SIM registration, NIN/BVN enrollment, Business registration and lots more.
“The digital kiosk also has a canopy class room for financial literacy, to educate the audience on the importance of savings and investment and access to loans among others.
“The Paynacle initiative is aimed at targeting rural farmers,traders, market women and young people in the unserved and underserved communities.
Our services are designed in such a way that it provides a top-notch unique and excellent service.”