The National Sports Lottery (NSL) plc has gone into the business of providing secure electronic payment to Nigerians. The Company is collaborating with Valucard plc the joint acquirer of Visa international in Nigeria and a leader in electronic payment solutions.
i8550 POS terminals being deployed by NSL plc comes with a number of features that can be of benefit to merchants and retailers.
Citizens desirous of becoming NSL lotto agents can get one of these i8550 terminals for enabling customers play the lottery game. Lottery players can pay with cash after which they select any six digits. i8550 terminal then prints a play slip for the player which he/she can use to redeem winnings.
Merchants or retailers desirous of reducing the volume of cash accumulated in daily business operation can also deploy these i8550 POS terminals. Once deployed, customers with VPay or Visa cards can make secure electronic payments for goods and services purchased via the i8550 POS terminal.
The card is inserted into the i8550 POS terminal after which the customer enters his or her PIN (the PIN is the same as the one used at ATM machines). After entering the PIN, money will be automatically transferred from the account of the shopper to that of the merchant. If all is well payment will be approved (this will be displayed on the screen). If however there is not enough money in the account of the shopper to cover the purchase the transaction will be terminated.
i8550 POS terminal also support other value added services like purchase of mobile phone recharge Pins and electronic fund transfer. Mobile networks like MTN, Starcomms, glo and Celtel are currently supported.
These value added services are bound to increase income streams for merchants. NSL plc, Valucard and other partners are bound to offer more value added services in the future.
One great benefit of i8550 is that it does not support only electronic payment via credit/debit cards, but also supports cash payments hence offering the flexibility required by most merchants in the country.
These i8550 POS terminals are recommended for hotels, filling stations, eating joints, shops, supermarkets, cyber cafes and all other location where secure and convenient payments is required.
If you need one of these devices you can call NSL hotlines for all your enquiries. The numbers are:
01-7735900, 01-7736600, 01-879436, 01-879437