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Nigeria Payment Report 2024 Unveiled by Zone in Partnership with TechCabal Insights

Nigeria Payment Report 2024 Unveiled by Zone in Partnership with TechCabal Insights
techcabal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techcabal.com Daily Mail and Mail on Sunday newspapers.

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#StartupSouth & Rebel Seed Capital to host Oil & Gas Early Stage Startup Investment Masterclass in Enugu, Port Harcourt & Lagos

#StartupSouth & Rebel Seed Capital to host Oil & Gas Early Stage Startup Investment Masterclass in Enugu, Port Harcourt & Lagos
techcabal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techcabal.com Daily Mail and Mail on Sunday newspapers.

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CBN approves new license categorizations for payment systems

The Central Bank of Nigeria (CBN) has approved a new license categorization system for the Nigerian Payment System. The apex bank made this known in a press release published on its website and dated 9th December 2020. According to the CBN, the license categorization is meant to help promote a strong and credible payment system and offers “clarity for new and existing market participants, given the significant evolution and innovation in the Nigerian payments system.” The central bank appears to be updating its regulations amidst the new wave of FinTechs in the country offering varying but often nuanced services. According to the new guidelines, Payment Systems are now to operate within 4 broad categories.

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