The Central Bank of Nigeria (“CBN”) has issued our Client, LibertyPay Limited, a fintech company in Nigeria, a Payment Solutions Service Licence to operate agency banking business in the country.
Super-Agents are Fintech companies with the lowest capital requirement threshold (being N50 Million) in the payment ecosystem in Nigeria. A super-agent company is a business incorporated in Nigeria and licensed by the CBN to undertake agency banking. Agency banking is a type of financial service that is carried out on behalf of banks to banked and unbanked communities or population in order to increase financial inclusion to those who would have been otherwise unable to benefit such financial services under formal banking system.
With this CBN approval, LibertyPay will build its network of merchants across the country, provide them with payment infrastructure platform and technology tools for inclusive financial products and services especially in the rural and unbanked areas of Nigeria.
LibertyPay is one of the fintech companies poised to solving the nation’s challenges of inclusive financial services. With this licence, LibertyPay can now process offline payments from customers and offer new and innovative financial products and services backed by technologies.
PLEASE CLICK BELOW TO READ MORE ON HOW TO SET UP A SUPER AGENT COMPANY IN NIGERIA BELOW:
YOU CAN ALSO READ MORE ON HOW TO SET UP OTHER PAYMENT COMPANY IN NIGERIA BELOW:
