Topic: Bank limitations, loss of customers as result of POS (Read 133 times)

I believe you know that the banks and POS operates together, because without the banks POS won't function in this our country. Waiting me I obvious be say the banks them them done notice am say the ATM no too dey around people, and before some people go reach where the ATM dey some no fit meet up with the expensive viewer the transportation. So they need to work on that aspect to make things easier for their customers so no matter how people dey use the POS more than banks, banks can never stop to function instead the POS are helping the banks to draw out some crowds towards the bank.

Yes definitely not far as the job creation towards many who has taken POS stand as establishment or business to tackle their daily need is now rampered, though many are course as result of unemployment rate that is high because if truly there a good enabling environment where there is good job many will not take the operation of POS as their well paying jobs because I don't see such as capable of given the operator good salary for a month except one who stay in strategic position where customers flows and is able to make the least 3000 daily because the guy who stay around me hardly do more that five transaction a day so how can he compare himself with one with good job I assume it's as a result of good job that made many in the POS to see it as only option to sustain because there is a saying that state when the need is not available the available becomes the need that is the case of many pos operator.

Na e mk people no dey value banks them again, because of wetin dem dey do, imagine say person get Emergency now, and you rush go bank, say make you go withdraw money to enable you settle the emergency and e no come fit withdraw reach 100,000 again, shey you go look like say  you no even get money for your account, or u go dey look like mumu for other people eye, na all this things dey make some people no dey reason bank them again, because them dey sabi embarrass person, na you get money, na you go still suffer to collect am from them, and person no go just get emergency just run go bank, wey bank go just help you quietly, if person no hala or fight them there. So if POS won take over bank, me I dey in support of am, because bank no dey try at all, and I no even see their value self again.

Normally all these POS stands that you see everywhere like people selling recharge cards in the olden days was as a result of the harsh conditions that bank customers face either to withdraw or deposit their funds to their bank accounts but it is also an advantage to some people in the society because a lot of individuals are really making money doing this POS business and I think that is the more reasons why we see a POS stands every where you go and it has helped in giving self employed jobs to a lot of people who now use it as a source of livelihood so "no pain no gain" as frustration of banks brought about this idea of POS it has also aided in liberating the lives of some people in the country and made transactions more easier and reliable unlike going to the bank to make deposits or withdrawal which sometimes results to wasting the whole day.

You supposed know your country by now, nothing wey our eyes never see and nothing wey no never experience, we just dey do wetin dey surprise people for this our country, bank wahala no be even wetin person go talk, na e make me self Kukuma like POS and if e dey possible self, make POS take over our local banks because even if we save money for bank, them go still dey take charges self, say na maintenance fees and all, bank people dey vex me ehn, na e make I just abandoned my account for them.

Banks and POS matter come be like NEPA and generator matter. Na the ones weh supposed be alternative come be the main thing now and we come trust them pass. Most things for Nigeria na abnormal situation them deh work and those in charge no want to do anything to change the situation.

I am not disputing the fact that banks have lost enough customers to POS Merchants but I don't believe the fact that it is because of the POS but it is because of the cashless policy by the government. Like the last time when I visited the bank and that should be last week, access bank in precisely boldly told me that they can only gave me 10k for a withdrawal and I thought of if it instead of coming to bank to withdraw this small amount why can't I just collect it in POS because the transport is even higher than the POS charges.

POS would collect 300 for 10k but the tp from my location to the bank is 300x2 =600 so it is better to collect them in POS than coming to the bank. That is the major cause of the losing of customers by banks. And in most time people now use the epayment method. So in most of the things we buy now we use Palmpay, Opay and kuda etc so there is no need to go to the bank or POS to withdraw money instead we pay through online apps.

I just dey see say banks now na majorly for paper work and documentation or things concerning or financial instruments but regards to cash, pos people don take over and I no think say that na mistake, no. Banks intentionally push that aspect to pos to decongest the banking hall so that they can focus on other things. From how much to receive from bank counter to ATM, we go know say dem don change things around. And pos self don make monetary transactions easier with the direct service fast fast .Banks prefer to push out money to pos than make people dey cluster for their premises.

In fact the POS thing don make financial transactions easier, you fit even collect money from your customer hand when transaction dey hang. The thing don increase trust level for some customers and pos person and infact e don expose how people be with money matter self.

This thing weh banks deh do no make sense at all at all. Do you know that there is still limit of N20,000 for daily ATM withdrawals from banks. I experienced am two days ago As I use my card on two different banks. I managed to withdraw N20,000 on Zenith ATM, the thing alerted me say I don reach my limit as I tried to withdraw more. I shift go Access bank, na the same refusal. This our country we no know whether na front or back we deh go self. The thing no make sense at all. I was thinking na N100,000 be daily withdrawal for ATM, abi them don change am?

Omo, you don really finish them with your talk and I wish this your talk go reach them because most of them, no really know say na them dey be reason why them no dey too get customers and if you say make you go tell them, over sabi no go gree them and them no go gree self, na wen POS people don take over, na then , dey go realize wetin they do themselves, then dey go dey find way make they destroy the operation of the POS people because I no know why they go dey shout or dey underrate customer wey get little money for account  or u no carry motor, plenty useless attitude wey dem dey give customers dey enough for us no to dey go bank self.

Na these POS terminals be the way forward now. Technology wey we see today, have brought about plenty developments in the world and Nigeria have not been left behind too even though developing countries like ours have a slower pace in terms of technology adoption than developed countries like.the US and UK who are eager to explore and experience new developments.

Even though the POS system have been said to be in existence since 1800s, the Central Bank of Nigeria brought it to Nigerian banking sector in 2012 under the leadership of Sanusi Lamido Sanusi who was the CBN governor from 2009 to 2014. Since the adoption of POS in Nigeria, many citizens and small business owners have taken advantage of the ease in doing business using the POS stands as an alternative to the Bank ATM machines or over the counters.

 Make you no think too much on am as you sef mention reasons why the banks dey dey short of patronage. Imagine after waiting for a long time in the queue, e reach your turn, either money don finish for the ATM or network dey so bad and you go gats go back. I think say many people bin dey use banks when Dem wan do their business because, there's no extra charge attached especially when you wan collect moni from ATM but these days people no send the money again o.
 For me, most banks dey lose their customers unto lack of or poor customer service. I know say country dey hard but as front desk personnel, e dey necessary to put on a cheerful face to customers but when you go these banks, on top your money them go dey shout for you.
 I no go surprise if very soon with how these POS operators dey overtake everywher, the banks go become obsolete.

This topic I deem it necessary it's discussed here as mostly concerned our citizens here in naija, it's no longer rumors or news that our bank is diminished in many aspects of their duties unlike before the introduction of POS, where ATM pays their customers but today the ATM no longer work or pay money upon the number of machine bank may have even if is paying hardly see more than one machine paying.

Likewise to the part of customers, many customers has ended up not depositing money in bank but through POS where it act as selling the currency as POS operator buy the money from then where they see their interest at hand for saving money, in addendum to this facts the last CBN policy in our naira also course all levels of depositor lacking trust in our bank in saving their money instead prefer to save it at home as the stress on bank become unbearable after saving in bank found it difficult to withdraw as at when due or need by the customer, looking at this instance and how the bank operate now and POS trying to dominate the market coming up with the strategy of buying the money directly from the market woman and depositor do you think bank will still function in having full control of their customers in depositing and drawing as many have loss interest on them.