Nigerian Central Bank Adds NFC To eNaira For Contactless Payments
As per a recent report, the mobile application of Nigeria's Central Bank Digital Currency (CBDC) has now incorporated the use of Near Field Communication (NFC) technology.
This enhancement allows mobile gadgets and payment machines to communicate with each other when they are near each other, making it easier and non-contact for eNaira payments.
As per the Central Bank's statement, additional features will be incorporated into the eNaira, restricting the usage of CBDC payments solely to specific governmental initiatives, thus decreasing the likelihood of fraudulent activities.
Nigeria rolled out its eNaira Central Bank Digital Currency (CBDC) in 2021, thereby becoming one of the initial African nations to introduce its CBDC.
Nevertheless, the rate of adoption has been minimal and has not met the anticipated levels.
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