Tag: #Fintechcompany

The Central Bank of Nigeria (“CBN”) has granted an Approval-In-Principle (“AIP“) to Appglobal Technologies Limited, a fintech company in Nigeria, to operate three types of payment services or businesses under the Payment Solutions Service Licence Category. The CBN is the apex regulator of the Nigeria’s …

Introduction Payments Terminal Service Provider (“PTSP”) companies are some of the major drivers of the Nigerian payments sub-sector. According to a 2022 report by Insider Intelligence, Nigeria (with record 3.7 billion transactions) ranked 6th amongst top 10 countries in the world (and the 1st in …

1. Introduction The global pandemic of 2020 introduced the world to the increasing importance of digital banking and other online financial services. Thereafter, experts projected that digital banking users will rise to 3.6 Billion globally. Nigeria, for instance, recorded 3.7 Billion real-time transactions 2021, ranking …

The financial sector in Ghana has grown rapidly since 2010 and continues to evolve with the aid of technology. Fintech businesses in Ghana span the insurance, agriculture, banking and investment sectors. The number of Ghanaians with access to formal financial services has equally improved considerably. …

What is a Payment Service Bank? Payment Service Banks in Nigeria are channels by which telecommunication and technology solutions companies are licensed by the Central Bank of Nigeria to participate in the fintech payment ecosystem with primary focus on the rural areas and unbanked locations, …

What is a Payments Service Holding Company in Nigeria? A Payments Service Holding Company is a type of corporate structure that is required by Nigerian law for a group company that is desirous of holding more than one payment system licence within the Nigeria payments …

Why does a business require an MMO licence? Every technology solution service provider, in whatever sector, is most likely interested in how to reduce stress for customer’s subscription and payment through digital channels. One of the notable features of most online platforms is the provision …

Section A: Preliminary Points on PSSP Licence in Nigeria As digital payment transactions continue to rise in Nigeria, interested investors  need to know what licence is suitable for their business model and the requirements for getting regulatory approval to enter the Africa’s most populous country …