Tag: #Paymentservices

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 …

This article highlights, in a question-and-answer format, the purpose of International Money Transfer Operator (“IMTO”) licence for inbound cross-border payment services including the requirements, costs and procedures that a potential investor in the sub-sector in Nigeria will undertake in order to incorporate and get the …

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. …

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 …