POS transaction

Banking

How to make POS transaction without your ATM card

POS transaction – The latest industry stats by Nigeria Interbank Settlement System (NIBSS) shows that upward trend in electronic payment through POS had a surge in recent time, quoted by Fintech Africa.

Categorically, further finding shows that, N1.41 trillion value of transactions were carried on POS in 2017 and 2018, the figure however increased by 65.8 % to N2.32trillion .

The total value of POS increased significantly to N3.2trillion in 2019 alone.

With the above stats, it’s evident that Nigerians are on a swift pace with ease of accessing financial services via electronic channel.

The introduction of ATM card, ATM machine, internet and mobile banking platforms had afford Nigerians a seamless banking experience enshrined in a robust technology, not minding occasional bottlenecks associated with these platforms from time to time.

In all, there has been a significant progress in the right direction.

That said, if you are an FCMB customer and wants to discover something new, which I’d sure believe you’ll love to, kindly stick to this guide and read to the later.

Read also: How to become Access bank POS agent/CLOSA agent/ Mobile money

The interesting vibe is that you can now effect POS transaction without taking a hold on your ATM card, awesome right?

As a bank determined to enhance its customer’s experience and ease of doing transaction, FCMB has comfortably scored another point in advance technology.

Read also: Z-Money – How to become a zenith bank POS agent

Let me show you how this works…..

  • Kindly visit a cashier/teller point when you want to pay for goods or services
  • The cashier should select “pay with USSD on POS
  • The cashier enters the amount on POS terminal
  • A 4-digit reference code will be generated and displayed on the POS terminal
  • From your mobile phone, dial *329*000*reference code generated above#
  • Authenticate your transaction by entering your USSD transaction PIN
  • Transaction is approved and POS terminal prints receipt.

It’s as simple as that.

POS charges in Nigeria

There’s no definite charge, kindly visit your banks to find out what is applicable at a given time.

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