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Licensed Payments Service Providers

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

Mobile Money Operators

Non-Bank Led (Commercial Licence)

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

Payment Solution Service Providers (PSSP)

Commercial Licence

  1. Arca Payments Company Limited
  2. Cellulant Nigeria Limited
  3. CoralPay Limited
  4. Cyberspace Limited
  5. Ercas Integrated Solutions Limited
  6. eTranzact International Plc
  7. Eyowo Integrated Payments Limited
  8. Flutterwave Technology Solutions Service
  9. Global Accelerex Limited
  10. Infiniti Segments Limited
  11. Inlaks Limited
  12. Interswitch Nigeria Limited
  13. Netplus Strategy & Sales Advisory Limited
  14. Parkway Projects Limited
  15. Paystack Payments Limited
  16. Pethalhial Rehooth International
  17. PayU Payments Nigeria Limited
  18. Qrios Network Limited
  19. Saana Corporate Investments Management Limited
  20. Soft Alliance & Resources Limited
  21. SystemsSpecs limited
  22. Unified Payments Nigeria Limited
  23. Upperlink Limited
  24. Vas2net Technologies Limited
  25. Venture Garden Limited
  26. Xpress Payment Solutions Limited

Payments Terminal Service Provider (PTSP)

Commercial Licence

  1. Arca Payments Company Limited
  2. Bizzdesk Global Solutions Limited
  3. Brinq Africa (Corenett)
  4. Citiserve Limited
  5. Computer Warehouse Group Limited
  6. Etop Nigeria Limited
  7. Fidesic Nigeria Limited
  8. Funds and Electronic Transfer (FETS) Limited
  9. Global Accelerex Limited
  10. Intellifin Solutions Limited
  11. Interswitch Limited
  12. Itex Integrated Services Limited
  13. Netop Business Systems Limited
  14. Netplus Strategy & Sales Advisory Limited
  15. Unified Payments Services Limited
  16. Payments Solutions Limited

Card Scheme/Payment Scheme

  1. 3 Line Card Management Limited
  2. American Express International
  3. Mastercard International
  4. Payattiude Limited
  5. Verve International
  6. Visa International Services Association


Commercial Licence

  1. 3Line Card Management
  2. Capricon Digital Limited
  3. Inlaks Computer Limited
  4. Innovatives Limited
  5. Interswitch Financial Inclusion services (IFIS) Limited
  6. Itex Integrated Services Limited
  7. Microsystems Investment and Development Limited
  8. Nigerian Postal Service (NIPOST)
  9. Teamapt Limited
  10. Unified Payment Services Limited
  11. Xpress Payments Solutions Limited
  12. Y'ello Digital Financial Services Limited


Commercial Licence

  1. ARCA Networks Limited
  2. Chams Switch Limited
  3. CoralPay Technologies Nigeria Limited
  4. eTranzact International Plc
  5. Interswitch Nigeria Limited
  6. Unified Payments Services Limited
  7. Xpress Payments Solutions Limited

Third Party Processors (TPP)

Commercial Licence

  1. eTranzact International Plc
  2. Interswitch Limited
  3. Network International Payment Services Nigeria Limited
  4. Unified Payment Service Limited
  5. Xpress Payment Solutions 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.




Exchange Rates (NGN)
As at October 22, 2021
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