• Sunday, March 03, 2024
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Fintech brand gets CBN licence to operate in Nigeria

Fintechs, financial inclusion and regulatory challenges

Unlimint, a global fintech brand, is set to launch its operations in Nigeria, after receiving its Payment Solution Service Provider (PSSP) License from the Central Bank of Nigeria.

This milestone development authorises Unlimint to operate as a recognised payment service provider in the region, enabling the delivery of a wide range of payment services and methods that will help local businesses expand their reach to a local and global audience.

Headquartered in London, and with a presence in over four continents including Asia, Europe and South America, Unlimint’s entry into Nigeria comes at a critical time when the country is experiencing an increasing demand for faster and more secure payment solutions.

Over the last few years, the fintech industry has experienced consistent growth, prompting companies to recognise the significance of providing diverse payment solutions to their clients. Unlimint is poised to leverage its expertise and experience in the global payments industry to deliver tailor-made solutions that meet the unique needs of the Nigerian market.

Commenting on the accomplishment, Trevor Goott, Director for Africa & India, expressed immense satisfaction with the expansion, citing the organization’s vision to be a key player in the region, and riding on the wave of the digital and technological innovations sweeping across the financial technology and payments sector within the African continent.

He said: ‘‘The African technology and payments sector has witnessed an exciting transformation over the past few years, with Nigeria being at the forefront of the African payments revolution. The Nigerian economy holds significant potential for fostering the development of innovative organisations such as Unlimint.

“We are here to offer a safe, secure, and reliable payments experience to businesses, entrepreneurs, and their customers. We have been perfecting our customer journey and our payments experience for our customers, on a global scale, over the past 13 years and are now bringing this capability to the Nigerian market. This launch is the first step in Unlimint’s African market expansion, with other announcements expected to be made over the coming months.

Read also: Four hurdles facing African fintechs’ $30bn growth projection

“We are excited about the endless opportunities our presence in Nigeria will bring for businesses and their customers alike and we look forward to being part of the Nigerian Payments Landscape.”

According to Kirill Evstratov, Unlimint’s CEO, Unlimint’s expansion to Nigeria is a testament to its unwavering commitment to empowering businesses globally with our innovative payment solutions.

“We are proud to bring our cutting-edge technology and deep expertise to the Nigerian market, and we are confident that our solutions will enable businesses of all sizes to thrive and succeed in the digital age.

“We also understand that digital business transactions especially, must be borderless and boundless, as such, its financial infrastructure must be increasingly flexible, timely, seamless, and reliable.

“Our vision is to create a world where payments are seamless, secure, and accessible to everyone, and our expansion to Nigeria is a significant step towards realizing that vision.”