The Central Bank of Nigeria (“CBN”) has released new directives that will fundamentally reshape how Point of Sale (“PoS”) agents and payment providers operate across the country. The regulator is moving to tighten oversight by mandating the geo-tagging of all POS terminals, restricting their use to a strict 10-meter radius, and insisting that the entire industry migrate to the ISO 20022 global standard for payment messaging. This article looks at the CBN new update, what it means for PoS operators, the consequences of non-compliance, the benefit for customers, and the impact of this new update will have on the general … Continue reading KORIAT’S FINTECH PAYMENT UPDATE: NEW REGULATORY POLICY FOR PAYMENT COMPANIES IN NIGERIA