CRITICAL ANALYSIS OF THE VULNERABILITIES SURROUNDING THE USE OF POS SERVICES IN RURAL NIGERIAN COMMUNITIES AS A STEP TOWARDS FINANCIAL INCLUSION IN A SMART NATION

ABSTRACT

In a bid to implement the policy of financial inclusion for both urban and rural dwellers in Nigeria, the Point-of-Sale (POS) services have been deployed for financial transactions in the rural communities of the country. This paper took a critical study of the operations of the POS services in rural Nigerian communities, X-rayed the opportunities it created, analyzed the vulnerabilities surrounding the service and suggested ways of protecting the stakeholders (customers and agents) using the POS services. The paper has done all these to enlighten the POS customers in order to keep their funds safe and also build a trust in the system and thereby helps to achieve the expected financial inclusion.

Keywords: Vulnerability, POS Services, rural communities, financial inclusion