The Managing Director of Nigeria Inter-Bank Settlement System (NIBSS),Mr. Adesonubi Adebisi, has stated that Nigeria has recorded growth in mobile banking, compared to some African countries. He spoke at the Fintech Summit 2017, where he analysed the data of the Fintech industry in the past few years and admitted that mobile users in Nigeria are now about 29 million.
He said: ‘’Internet banking is slowing down; mobile banking is growing and USSD is also growing while ATM usage remains stagnant in the past three years. Now, consumers engage more with the mobile world because it is fast and convenient, card transaction/POS is also growing while cheque transaction remains stagnant.’’
He noted that the larger value transactions are reducing while the smaller value transactions are increasing every time because customers are able to engage themselves with mobile banking which increases in bank transactions. The NIBSS boss added that the numbers of bank customers are not