According to Vanguard, NetplusDotCom, a financial technology company, alongside key players in the payment industry, has initiated efforts to tackle barriers to contactless payment and boost its adoption in Nigeria.
During a forum organized by NetplusDotCom in Lagos, themed ‘Accelerating Contactless Payment: A Collaborative Approach to Overcoming Barriers,’ stakeholders resolved to form an industry group aimed at identifying and addressing obstacles to the widespread use of contactless payments.
Experts at the forum highlighted the low penetration of Near Field Communication (NFC) technology as a significant barrier to the adoption of contactless payments. They emphasized the need for collaborative efforts to overcome this hurdle and promote the technology.
Speaking to Vanguard on the sidelines of the forum, Wole Faroun, Managing Director and Founder of NetplusDotCom, stated, “The essence of this forum is to bring industry stakeholders together to discuss our payment system and the evolution of contactless payments.
“At NetplusDotCom, we have been at the forefront of providing SoftPOS for the last two years. This technology converts mobile phones into POS devices. However, we recognize the need for greater adoption and education, and we are aware of the barriers hindering this technology’s uptake.”