Federal finance and statistics / Central Bank of Nigeria

Circular on the Implementation of Interchange Fee

With the introduction of the Cash-Less Nigeria Project and the release of the Guidelines on PoS Card Acceptance Services, the CBN outlined the Merchant Service Charge (MSC) and the modalities for its operation in the payments system. This had enhanced the issuance and utilization of cards transaction in the country and brought structure to the compensatory mechanism for parties involved in the transaction. | Keywords: Circular, Implementation, Interchange Fee