Liberty Pay gets CBN’s nod to provide payment solution

The Central Bank of Nigeria (CBN) has granted Liberty Pay approval In principle (AIP) to operate as a payment solution service provider super-agent.

The AIP allows Liberty Pay to move a step forward in receiving a full commercial licence for CBN payment solution super-agent to carry out payment services around wallet creation and management, USSD, agent recruitment and management, and any other activities as permitted by the CBN, according to a statement.

Otimeyin Igbene, group chairman of Liberty Pay, said the company will be providing direct access to all its products and services using multiplicity of channels.

Igbene said the company has commenced working with the CBN to meet the conditions for receiving a full operating commercial license.

He said the business entity will enhance connections between trade parties in the payment sector and lead the innovation of digital payment in a changing world of business.

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He said: “The CBN approval is an achievement of the three fundamental pillars of FINTECH, Competence, Character and Commitment to service. Our core objective is to deliver seamless service and safe harbor to our clients in a transitional way that digital payments are made easy to our clients. No doubt, technology and trends today change at breakneck speed.

“Our clients are assured of consistency, reliability and safety of their transactions with the use of the best global industry technology practice. We are making digital payment service delivery available to all and sundry irrespective of their level of exposure, technological capacity and so on.”

The portfolio products of Liberty Pay includes Liberty Pay, which is a core payment product that caters to the financial infrastructure of small and medium businesses across the country; Other available payment channels includes Web, Mobile, POS, ATM, and USSD, etc. The company also has an array of products and services targeting different market segments and demography.