Research has shown that Point of Sale (POS) business in Osun State which can be seen in strategic places has reduced the overwhelming rate of unemployment among youths.
It was also known that eighty percent of youths who are gainfully employed as POS attendant are either secondary school graduates, NCE holders, National Diploma holder including higher institution graduates.
This ascertain the fact that the attendants of many POS venture are not financial accounting or banking and finance students but smart individuals who are intelligent with financial transaction using the POS machine.
It has also shown that many graduates after their one year National Youth Service Corps (NYSC) program are now venturing into POS business in order to save them from hunting for jobs that are no longer available, this has suppressed the high rate of jobless youths in Osun.
POS to its operators in Osun is regarded as legitimate way to make money in Nigeria which is more profitable in rural communities with no banks and places where ATMs are not enough to serve the financial needs of the citizens in the urban places.
In some cases banks contract POS operators as their agent for banking business, and in an extension of the services offered by financial institutions to enable easy service offering to a wide range of customers.
POS business offers services like funds transfer and withdrawal, sales of airtime, bill payments like GOTV, DSTV, Startimes, PHCN, and other utility bills. It is used in several places where goods and services are sold/rendered; places like retail shops, offices, supermarkets, fuel/gas stations, pharmacies, eateries, etc.
By creating easy access for financial transactions in different localities, the POS business has given individuals and business owners additional means of income. They are sometimes called bank agents.
Although not serving as direct employees of a bank, they deliver banking services on behalf of banks on an agreed commission. It is a profitable business and one of the best means of getting passive income.
The Osun State Government under Governor Gboyega Oyetola is , however, urged to provide soft loan for youths of the state in order to enable them to go into POS business.
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