Shoprite Nigeria wins CBN’s cashless transactions award

Shoprite Nigeria has won the cashless driver award in the category Non–Bank Payment at the 2019 edition of the Central Bank of Nigeria (CBN) Electronic Payment Incentive Scheme (EPIS) Efficiency Awards.

The 2019 awards, which recently held in Lagos, are based on objective analysis of all e-Payments data collated by the Nigeria Inter-Bank Settlement System (NIBSS) over a full calendar year.

According to the NIBSS, the annual award puts into consideration electronic payment transactions data rendered to CBN by Banks and other licensed payments service providers as well as public voting and surveys administered to industry stakeholders for transactions within the year under review.

Shoprite was the only retailer to win at this year’s ceremony as it recorded the highest volume of cashless transactions in 2018. The win is a recognition of the retailers painstaking drive to meet and exceed the expectations of its customers.

“As technology continues to evolve it has also changed customer shopping habits and the way people buy their groceries, this is why our teams are constantly working hard to bring new convenient shopping experiences to customers and we are delighted to be the first grocery retailer in Nigeria to have won this award.” said  Finance Manager, Olayinka Olaniyi.

The annual award event is part of a broader strategy, spearheaded by the CBN, to reduce the amount of physical cash in circulation in Nigeria. Shoprite has supported the CBN’s drive for a cashless economy for many 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 spread across 12 states of Nigeria.