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March 9, 2016updated 04 Apr 2017 3:59pm

Wi-PAY receives payments licence in Nigeria

Wi-PAY Technologies, a provider of electronic payment solutions, has received a final licence from the Central Bank of Nigeria (CBN) to operate as a Payment Terminal Service Provider (PTSP) in the country.

By Verdict Staff

Wi-PAY Technologies, a provider of electronic payment solutions, has received a final licence from the Central Bank of Nigeria (CBN) to operate as a Payment Terminal Service Provider (PTSP) in the country.

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With this licence, the company will be able to launch its services to a network of merchants and customers across the country.

The company, which has launched its PoS operations early in 2015, recently unveiled a mobile payment app and online portal. The app can be downloaded via Google Play or accessed online via a dedicated link.

Wi-PAY offers a range of e-payment services including non-cash payments via PoS terminals, mobile devices, online platforms and international remittance tailored to various markets.

Wi-PAY head of operations/IT Charles Ighedo said: "We feel quite excited and confident of our status as this license will enable us expand and serve our growing customer base in line with the CBN cashless policy.

"Since launching its PoS operations early in 2015, Wi-PAY Technologies has sealed Service Level Agreements (SLA) with about four banks, and more in the pipeline. The company currently has over 350 merchant locations mainly in Lagos and Port Harcourt in its customer base with significant number still awaiting installation of PoS devices.

"Beyond the continued expansion of its PoS services to SMEs within Nigeria, the company has prospective plans of launching an international remittance operation through its US- based sister company; Wi-PAY GLOBAL LLC (US).

"The Wi-PAY Global recently received its first international remittance license earlier this month from the US State of Delaware with over 10 license applications still pending."

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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