The Central Bank of Nigeria (CBN) has granted a license to DPO Group’s subsidiary One Payment Limited to provide certain types of payments services to businesses across the country.
This license allows DPO Group to operate as an independent payment solutions services company in the country.
The company provides more than 60,000 active merchants, including travel agents, airlines, and e-commerce companies, with merchant aggregation services.
It allows merchants to accept modern electronic payments in all currencies and methods, including debit or credit cards, mobile money or e-wallets.
DPO group also provides protection against fraud payments and supports merchants to manage chargebacks, refunds, etc.
DPO Group CEO Eran Feinstein said: “Nigeria represents a key market for any business with a digital focus, as one of the most innovative African countries when it comes to fintech and eCommerce.
“This new licence is an exciting development which will allow us to offer an even smoother payment process for Nigerian businesses looking to grow and reach more customers through secure digital payments.”
The company’s Nigeria country manager Chidinma Aroyewun said that the new licence will allow it to work with many Nigerian businesses and help them achieve their growth goals through secure payment technology.
Last year, Network International acquired 100% of DPO Group.
With the acquisition of DPO, which has operations in 21 countries in Africa, Network International bolstered its presence across Africa and new territories.