Banking transactions conducted through Web Pay, also known as internet banking, surged to ₦542.98 trillion in the first quarter (Q1) of 2025, reflecting customers’ growing preference for digital channels over Automated Teller Machines (ATMs) and Point of Sale (PoS) terminals.
Data from the Central Bank of Nigeria (CBN) showed that the value of Web Pay transactions reached ₦542.98 trillion in Q1 2025, far exceeding ATM transactions valued at ₦15.97 trillion and PoS transactions worth ₦70.98 trillion during the same period.
“This shows the
