How To Check Live Bank Transaction Success Rate In Nigeria

By: Yusuf Odukoya /
 November 27, 2021
  / 2 min read
Categories: Fintech
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If you have been a bank account holder in Nigeria for a couple of years, there’s a very high chance that you’ve had some failed bank transactions at one point or the other. Bank transaction failures occur every day at different times. Sometimes, it is bank-specific, while in other cases, it could be a card issuer problem. A downtime at the NIBBS can also cause transaction failures nationwide.

In this post, I will reveal the online tool called Grafana. With this tool, you to check the transaction success rates of every bank in Nigeria. You can also check the success rates of Airtime purchases, Cable TV Subscription and Electric Power purchases. The best part is that you do not need to sign up or login.

What is bank transaction success rate?

Bank transaction success rate is the proportion of attempted transactions that ended with a successful credit to the beneficiary.

It is calculated by dividing the total number of approved/successful transactions by the number of attempted transactions. For example, if consumers attempted 100 transactions via a payment solution out of which 95 became successful, then the payment success rate is 95%.

READ:  8 Businesses You Can Add To Your POS Business

When should bank transaction success rate matter

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Consider the following scenarios;

  • You own an online store which is usually very busy with orders. You’d notice that sometimes, shoppers may have issues making payments with the same payment method that worked for others. With the bank transaction success rate checker, you can have a better understanding of the situation and provide more quality assistance to the affected customers.
  • You need to make pre-informed decision on whether to use the POS, ATM or Cash in order to avoid the dreaded debit alert despite transaction failure.
  • You need to know whether it’s even worth leaving our house or place of work for the nearest POS or ATM Center to withdraw some cash.
  • You want to know which banking services are currently having issues at the moment so as to avoid the risk of getting debited despite transaction failure.

How to Check Bank Transaction Success Rate In Nigeria

We can check the real-time bank transaction success rate using an online tool known as Grafana. Thanks to TeamApt, the company behind Moniepoint (POS & Mobile Money) and Monnify (An online payment gateway) for working with Grafana to make this service publicly accessible.

Nigeria Live Bank Transaction Success Rate Checker 👇

You may need to allow a few seconds for the software to load 🙏🏽

TIP: Bookmark this page on your browser so that you can always come back and check as often as needed.
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