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Failed POS Transactions: How to Avoid Losing Your Hard Earned Money to Banks(Merchant’s Perspectives)

Is Your Bank Stealing Your Money?

Merchants (sellers, service providers, mall owners or retail traders etc) lose lots of money when using POS devices/systems to take payments for goods sold or services rendered. Some reasons why such losses occur include genuine, but time-bad and false chargeback claims, ineffective processes in controlling,reconciling and review of POS transactions on a daily basis and,  manual processing interventions (from…

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POS/ATM Transactions: Is Your Bank Stealing Your Money?

How to Avoid Losing Your Hard Earned Money to Banks

        Its Friday, 20th July 2018. 11a.m precisely. The July rains are slowly drizzling outside the premises of the branch of a highly capitalized Nigerian commercial bank, Mrs Onome Arikpo (not real names) walks into the banking hall and heads straight to the customer services personnel, “Please am here again for my POS matter, you asked…

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