🍔 Quick Bite: The CBN wants every PoS machine in Nigeria to be geo-tagged. It could make fraud harder, but it also raises questions. Will small agents survive the extra costs? Will customers trade convenience for security? Or will this just be another rule that looks neat on paper but messy in practice?
🧠 The Breakdown
When the Central Bank of Nigeria announced that every PoS terminal must be geo-tagged, it set off debates across the financial ecosystem, from payment operators to everyday users.
The new rule requires all terminals, old and new, to run on Android 10 or higher, come with reliable GPS, and capture their exact latitude and longitude at the start of each transaction. Each device must also stay within 10 metres of its registered location.
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