Investor Presentaiton
From Cash to Cashless
2000
Nigeria Channel Evolution
2012
2020
Low Personalization― High
In-person
EFT
ATM
POS
Mobile
Online
Relative
Low
High
Conveniencea
Majority of transactions were done in
person.
Personalization-High
Low
In-person
Low
ATM
EFT
Mobile
POS
Online
Relative
Conveniencea
High
■ ATM and transactions through other
electronic payment channels are
becoming widely accepted.
a Convenience is the degree to which a customer can fulfill his banking needs regardless of time and place
Implications
Low-
- Personalization-High
In-person
Mobile
POS
Online
ATM
EFT
Low
Relative
Conveniencea
High
■ Few transactions would be done in-
person and most transactions would
be through electronic channels.
With the embrace of a cashless society, there is a transfer of risk to
the various electronic channels, and adequate measures need to be
put in place to manage these risks.
12
References
Central Bank of Nigeria, Accenture Research
http://www.cenbank.org/cashless/Cashless%20Lagos%20Presentation_November.pdf
"Online Banking Report." Financial Insite Inc. Number 162. 22 Jan. 2009View entire presentation