CBN ORDERS SUPER AGENTS, SWITCHES, PSSP'S DISCONNECTION FROM INSTANT PAYMENT PLATFORMS

 

The Nigeria Inter-Bank Settlement System (NIBSS) Plc has directed Deposit Money Banks (DMBs) to take down all non-deposit financial institutions from their NIBSS Instant Payment (NIP) platform because they are not authorised to hold customers’ funds.

The circular, which was dated Tuesday, December 5, 2023, has generated mixed reactions. 

In the disclosure sighted by this news medium the NIBSS specifically said those not licensed to accept deposits are Super Agents, Switching Companies, and Payment Solution Service Providers (PSSPs).

A look at the website of the Central Bank of Nigeria (CBN) showed that 47 companies were issued licences by the CBN to operate as Super Agents, 75 firms were authorised by the apex bank to function as PSSPs, and 16 fintechs have the Switching and Processing licence.

Below is the full list, as obtained from the CBN, of the three categories of fintechs affected by the NIBSS directive;

SWITCHING & PROCESSING LICENCE CATEGORY

S/NO LICENCEE

1. Appzone Limited

2. Arca Payments Company Limited

3. Chamswitch Limited

4. Coralpay Technology Nigeria Limited

5. eTranzact International Limited

6. Flutterwave Technology Solutions Limited

7. Habaripay Limited

8. Hydrogen Payment Services Limited

9. Interswitch Limited

10. Network International

11. Paystack Payment Limited

12. Remita Payment Service Limited

13. Teamapt Limited

14. Terra Switching & Processing Company Limited

15. Unified Payment Services Limited

16. Xpress Payments Solution Limited

i. PAYMENT SOLUTION SERVICE PROVIDER (PSSP) AUTHORISATION

S/NO LICENCEE

1. Afara Partners Limited

2. Angala Financial Technologies Limited

3. Appmart Integrated Limited

4. Appzone Limited

5. Artha Fintech Limited

6. Betastack Technology Limited

7. Bud Infrastructure Limited

8. Callphone Limited

9. Capricorn Digital Limited

10. CBI Technologies Ltd

11. Cellulant Nigeria Limited

12. Centric Gateway Limited

13. Ceviant Payments Nigeria Limited

14. Clane Company Nig. Ltd.

15. Cyberspace Limited

16. Demerge Nigeria Limited

17. Dot Financial Inclusion Technologies Limited

18. Easypay International Limited

19. Egole Pay Limited

20. Ercas Integrated Solutions Limited

21. E-Settlement Limited

22. Eyowo Integrated Payments Limited

23. Fincra Technologies Limited

24. Flutterwave Technology Solutions Limited

25. Fountain Payment Systems Solution

26. Gemspay Limited

27. Global Accelerex Limited

28. Gpay Instant Solution Limited

29. GTP Client Services Limited

30. Hellopay Africa Integrated Service Ltd.

31 ICAD Concord Limited

32 Infiniti Segments Limited

33. Irecharge Technology Innovations Limited

34. Irofit Technologies LimitedD

35. Itex Integrated Services Limited

36. Konetpay Nigeria Limited

37. Kora Payments

38. Leadremit Limited

39. Moneta Technology Ltd

40. Multigate Payment Limited

41. Netapps Technologies Limited

42. Netplusdotcom Nigeria Limited

43. Nomba Financial Services Limited (Formerly Cosmic Intelligence Lab Limited)

44. One Payment Limited

45. Onepipe.Io Services Ltd

46. Parkway Projects Limited

47. Payfixy Nigeria Limited (Formerly Innovate 1 Pay Limited)

48. Paylode Services Limited

49. Paysure Technologies Limited

50. Payu Payments Nigeria Limited

51. Pethahiah Rehoboth International Limited

52. Prophius Limited

53. Qrios Networks Limited

54. Redtech Limited

55. Resident Fintech Limited

56. Rexel Limited

57. Routepay Fintech Limited

58. Saanapay Corporate Investments Management Limited (SAANACORP)

59. Shago Payments Ltd

60. Simplify International Synergy Limited

61. Soft Alliance & Resources Limited

62. Spay Business Solutions Limited

63. Spout Payment Solutions

64. Stanbic Financial Services Limited

65. Swift Link-NZ Global Services Ltd.

66. Teinnovate Capital Limited

67. Unlimint Nigeria Ltd

68. Upperlink Limited

69. Vas2net Technologies Ltd

70. Venture Garden Nigeria Limited

71. Vestrapay Nigeria Limited

72. Voguepay Web Solution Limited

73. Waxed Mobile Nigeria Ltd

74. Waya Multilinks Technologies Limited

75. Woven Finance Limited

SUPER-AGENT AUTHORISATION

S/NO LICENCEE

1. 3Line Card Management

2. 5554 Technologies Limited

3. Accelerex Networks Limited

4. Africa Mama Atm Limited

5. Africave Technologies Limited

6. Airtel Mobile Commerce Nigeria Limited (Airtel)

7. Allstream Information Technology Solutions Limited

8. Angala Financial Technologies Limited

9. Appmart Integrated Limited

10. ATN Wayya Limited

11. Betastack Technology Limited

12. C24 Limited

13. Callphone Limited

14. Capricorn Digital Limited

15. CBI Technologies Ltd

16 Cicoserve Payments Limited

17. Citiserve Limited

18. Clane Company Nig. Ltd.

19. Connectpoint Technology Solutions Limited.

20. Crowd Force Limited (Formerly Mobile Forms Limited).

21. Dot Financial Inclusion Technologies Limited.

22. Egole Pay Limited.

23. Errand P Limited.

24. E-Settlement Limited.

25. Fountain Payment Systems Solution.

26. Fucil Datatech Limited.

27. Gwills Payments Service Limited.

28. Infibranches Technology Limited.

29. Innovectives Limited.

30. Interswitch Financial Inclusion Services Limited.

31. Irofit Technologies Limited.

32. Itex Integrated Services Limited.

33. Kadick Integrated Limited.

34. Lukeport Nigeria Limited.

35. Microsystems Investment And Development Limited.

36. Moneymaster Limited.

37. Nigerian Postal Service (NIPOST) .

38. Nomba Financial Services Limited (Formerly Cosmic Intelligence Lab Limited)

39. Paycluster Technology Limited.

40. Paygo Limited.

41. Shago Payments Ltd.

42. Spout Payment Solutions.

43. Swift Link-Nz Global Services Ltd..

44. Traction Payments Ltd..

45. Vatebra Pay Limited..

46. Waxed Mobile Nigeria Ltd..

47. Y’ello Digital Financial Services..