Statistics released by the Central Bank of Nigeria (CBN) shows that the total value of transactions through electronic payment channels stood at N424.371 trillion in the first nine months of 2019.
The figure represents 83.5 per cent increase compared with N231.247 trillion recorded at the end of June.
The figures which are contained in the latest industry e-payment data issued by the bank also showed that the combined value of Automated Clearing House System/NAPS/PMS stood at N17.966 trillion as at September.
The figure was than the N11.596 trillion recorded in the first six months of the year.
The total value of ATM transactions, on the other hand was N4.861 trillion in September, higher than N3.238 trillion realised as at June.
While the value of point of sales (Pos) transactions recorded in the period under review was N2.240 trillion, up from the N1.384 trillion recorded up to June, total value of internet (web) transactions increased significantly to N344 billion as opposed to N233.903 billion recorded as at June.
Similarly, the industry recorded a total value of mobile money transactions of N3.394 trillion in the first nine months of 2019.
The figure was higher than the N1.966 trillion recorded at the end of June.
Besides, the Nigerian Instant Payment (NIP) value hit N75 trillion, as opposed to N49 trillion recorded at the end of June.
Also, E-bills/PAY transactions amounted to N429 billion in the period under review, up from the N281 billion in the first six months of the year, while payments captured through the Remita recorded a total value of N14.817 trillion, higher than the N9.839 trillion it was as at June this year.
Also, M-cash rose to a total value of N511 billion, up from N381 billion as at June.
The data also showed that payment through the Central Pay in the period under review climbed to N4.037 trillion, up from N2.835 trillion while intra-bank e-payment transactions totalled N203.354 trillion in the review period.
