Introduction | Retails Payments | Modes | Large Value Payments | PSV2020 | Oversight | Payments Service Providers | BVN | Circulars | Guidelines | e-Payment Statistics | International Money Transfer Operators

1. Mobile Money Operators

   1. Bank Led (Commercial Licence)

      1. Access Bank Plc
      2. Ecobank Nigeria Plc
      3. FCMB Limited
      4. Fidelity Bank Plc
      5. First Monie
      6. Fortis Mobile Money
      7. GTB Mobile Money
      8. Stanbic IBTC Nigeria
      9. Sterling Bank Plc
      10. Zenith Bank Plc

   2. Non-Bank Led (Commercial Licence)

      1. Cellulant Nigeria Limited
      2. Chams Mobile
      3. Contec Global Infotech Limited
      4. Eartholeum Networks Limited
      5. eTranzact International Plc
      6. Funds and Electronics Transfer Solution (FETS)
      7. Hedonmark Management Services Limited
      8. MKudi Limited
      9. Pagatech
      10. Parkway Projects Limited
      11. PayCom Nigeria Limited
      12. Teasy International Company Limited
      13. Virtual Terminal(VT) Network Limited
      14. Visual ICT Limited
      15. Zinternet Nigeria Limited

   3. Bank Led (AIP)

      1. Diamond Bank Plc
      2. Sun Trust Bank Nigeria Limited
      3. Union Bank Limited

   4. Non Bank Led(AIP)

      1. Aurora Wireless Limited
      2. Intellifin Solution
      3. MoneyBox Africa Limited
      4. Wi-Pay Technologies Limited

2. Payment System Service Providers (PSSP)

   1. Commercial Licence

      1. CoralPay Limited
      2. eTranzact International PLC
      3. Flutterwave Technology Solutions Service
      4. Global Accelerex Limited
      5. Infiniti Segments Limited
      6. Interswitch Nigeria Limited
      7. Netplus Strategy & Sales Advisory Limited
      8. Parkway Projects Limited
      9. Payttitude Limited
      10. Paystack Payments Limited
      11. PayU Payments Nigeria Limited
      12. SystemsSpecs limited
      13. Unified Payments Nigeria Limited
      14. Upperlink Limited
      15. Venture Gardens Nigeria Limited
      16. Xpress Payments Solutions Limited

   2. Approval In Principle (AIP)

      1. ARCA Networks Limited
      2. Cellulant Nigeria Limited
      3. e-Purse Systems Limited
      4. Electronic Settlement Limited (ESL)
      5. Saana Corporate Investments Management Limited
      6. Soft Alliance and Resources Limited

3. Payments Terminal Service Provider (PTSP)

   1. Commercial Licence

      1. Brinq Africa Payment Solutions Limited
      2. Citiserve Limited
      3. Computer Warehouse Group
      4. Easy Fuel Limited
      5. Etop Nigeria Limited
      6. Fidesic Nigeria Limited
      7. Global Accelerex
      8. Globasure Technologies Limited
      9. Grand Towers PLC
      10. Intellifin Solutions Limited
      11. Interswitch Limited
      12. iTex Integrated Services Limited
      13. Netop Business Systems Limited
      14. Netplus Strategy & Sales Advisory Limited
      15. Paymaster Limited
      16. Transaction Payment Solution (TPS) Limited
      17. Unified Payments Services Limited
      18. Wi-Pay Technologies Limited
      19. Xpress Payments Solutions Limited

   2. Approval-In-Principle

      1. 3Gee Pay Limited
      2. ARCA Networks Limited
      3. Aurora Wireless Limited
      4. BizzDesk Global Solution Limited
      5. e-Payment Plus Limited
      6. Funds and Electronics Transfer Solution (FETS) Limited
      7. Soti Investments Limited
      8. Swiftlink NZ Global Services Limited

4. Card Schemes

   1. American Express International
   2. Mastercard International
   3. Verve International
   4. Visa International

5. Super-Agents

   1. Commercial Licence

      1. Capricon Digital Limited
      2. Innovatives Limited
      3. Interswitch Financial Inclusion services (IFIS)Limited

   2. Approval In Principle (AIP)

      1. 3-Line Card Management Limited
      2. Inlaks Computer Limited
      3. Money Master Limited
      4. Xpress Solutions Limited

6. Switches

   1. Commercial Licence

      1. ARCA Networks Limited
      2. Chams Switch Limited
      3. CoralPay Limited
      4. e-Revenue Gateway (ERG) Limited
      5. eTranzact International Plc
      6. Interswitch Nigeria Limited
      7. Unified Payments Services Limited
      8. Xpress Payments Solutions Limited

   2. Approval In Principle (AIP)

      1. Bema Seamless International Limited

7. Third Party Processors (TPP) Commercial Licence

   1. Emerging Markets Payments (EMP) West Africa Limited
   2. eTranzact International Plc
   3. Unified Payment Service Limited
   4. Xpress Payment Solutions Limited

8. Payment Service Banks (PSBs)

   1. Approval In Principle (AIP)

      1. Hope PSB Limited
      2. Moneymaster PSB Limited
      3. 9 PSB Limited

Clearing House

Following the implementation of Cheque Truncation, there is only one (1) Clearing House in Nigeria (i.e. Nigeria Inter-Bank Clearing and Settlement System).

Framework, Policies, Guidelines and Circulars

These are various regulations and rules put in place by the Central Bank of Nigeria in collaboration with the key Stakeholders in the industry. Some of these are as listed below:

1. Agent Banking Framework
2. Regulatory Framework for Mobile Payment Services in Nigeria
3. PoS Guidelines
4. Switching/Stored Value Guidelines Standard
5. Standard and Guidelines on ATM Operations in Nigeria
6. Non Compliance with CBN Circular on ATM Deployment
7. Cash Withdrawals and Lodgments
8. Operational Rules and Regulations for the Nigeria Central Switch (NCS)
9. Guidelines for Handling Complaints on Electronic Card Transactions
10. Penalty for non-compliance with CBN Circulars and Guidelines on ATM Operations
11. Guidelines on Stored Value/Prepaid Card Issuance Operations
12. Guidelines on Direct Debit
13. Circular on the Need to Combat Card Fraud
14. Guidelines on Cheque Truncation
15. Guidelines on e-Payments of Salaries/Pensions
16. Standards for Electronic Payments to Government Suppliers
17. Guidelines on Nigeria Direct Debit Scheme
18. Nigerian Uniform Bank Account Number Standards (N.U.B.A.N)
19. Electronic Payment for MDAs with Accounts with the CBN
20. Circular to DMBs IRO Clearing of Financial Instruments of Liq/Legacy Banks
21. Accreditation and Re-Accreditation of Cheque Printers
22. Penalty for non-compliance with CBN Circulars and Guidelines on ATM Operations, etc.