Shoprite Nigeria Lauded for Promoting Cashless Transactions

In a first for the retailer, Shoprite Nigeria was among the winners at this year’s Electronic Payment Incentive Scheme (EPIS) Efficiency Awards.

The retailer won in the category Merchants (Point of Sale) for recording the highest volume of cashless transactions in 2018.

The EPIS Efficiency Awards celebrate, among others, financial institutions and merchants driving electronic payments in Nigeria. The awards are jointly organised by the Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement System. It was recently held in Lagos.

It is part of a broader strategy, spearheaded by the CBN, to reduce the cash in circulation in Nigeria. Shoprite has supported this strategy for the last five years, and subsequently has seen card transactions steadily rise to where it currently makes up 40% of all point of sale transactions in its 25 stores.