Payment Solution Service News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The Nigerian government through the Nigeria Inter-Bank Settlement System (NIBSS) has asked banks to delist Payment Solution Service Providers, Switches, and Super Agents from its outward payment or transfer list. This directive is contained in a circular dated December 5, 2023, with Ref: NIBSS/BD/NI/PO/005/051223 to all banks. According to NIBSS the listing of non-deposit-taking financial institutions as beneficiaries contravenes the Central Bank of Nigeria guideline on electronic payment.

Kippa said it has also obtained a licence from the Central Bank of Nigeria (CBN) to operate as a Super Agent

The Central Bank of Nigeria (CBN) has approved a new license categorization system for the Nigerian Payment System. The apex bank made this known in a press release published on its website and dated 9th December 2020. According to the CBN, the license categorization is meant to help promote a strong and credible payment system and offers “clarity for new and existing market participants, given the significant evolution and innovation in the Nigerian payments system.” The central bank appears to be updating its regulations amidst the new wave of FinTechs in the country offering varying b...