Business Crime Security

Why Customers Dumps Pos Returns To Banks ATM, Online Banking, USSD

Why Customers Dumps POS Returns To Banks ATM, Online Banking, USSD

Information reaching us has it that the usual high patronage of Point of Sale (PoS) ser­vices in the country is in reverse trend as bank cus­tomers now resort to Au­tomated Teller Machines (ATM) and other channels like online banking, Un­structured Supplementa­ry Service Data (USSD), among others.

In the heat of COVID-19, last year, banks and other financial companies were restricted in receiving cus­tomers as a way to prevent the spread of the pandem­ic.

Customers Dumps POS

The development triggered the proliferation of PoS ser­vice operations in the country for easy access to cash. Despite the charges for the services, which were more than those of banks’ ATM services, many Nigerians thronged the PoS service centres for their trans­actions.

However, in recent times, there have been reports of fraudulent activities being or­chestrated by scammers who fleece unsuspecting customers of their cash through deceptive methods through PoS.

Customers Dumps POS
Customers Dumps POS

The unsavory EndSARS campaign which caused hav­oc to some banks’ ATMs with cash looted, boosted PoS ser­vice patronage by most Nige­rians.

Customers Dumps POS

A recent report revealed how some PoS operators and even those who pretend to be customers waiting for trans­actions would feign making phone calls while distracting genuine customers’ attention to take pictures of their ATM cards’ details.

Speaking with media, Hassan Adekoya, a PoS operator, disclosed that there is low patronage of PoS services by customers. He said the cause is partly linked to the relaxation of COVID-19 re­strictions.

“The business is not prof­itable as before. I discovered that many of my customers now use banks’ ATMs which were not very functional be­fore, especially last year when the pandemic was still scary.

Customers Dumps POS

I am bothered because I am not making the type of profit I used to make. The consolation I have is that I have other items I sell along with the PoS business and I didn’t employ anybody that I am paying salary,” he explained.

Why customers dumps POS returns to Banks ATM, Online Banking, USSD. What is your comment?

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