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Discover all the payments and fintech-related news and analysis about Nigeria in The Paypers News, Reports, along with other Nigeria-specific insights on the payments and fintech industry:

Discover all the payments and fintech-related news and analysis about Nigeria in The Paypers News, Reports, along with other

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PennyTree launches retail banking app

News | Online Payments | 06 Jan 2023

Nigeria-based fintech firm PennyTree has launched a new version of their app, designed to provide retail banking services for their clients.

product launch, online banking, ecommerce, online payments

Nigeria launches national payment card

News | Payments General | 30 Jan 2023

The Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement Systems (NIBSS) have launched a national payment card aimed at boosting financial inclusion in the region.

product launch, partnership, payments , card scheme, payment methods, financial inclusion, transactions , FX , banking

Access Bank partners with Connected Analytics

News | Online & Mobile Banking | 20 Feb 2023

Nigeria-based financial institution Access Bank has partnered with rewards platform Connected Analytics to launch a new product, Access Rewards.

partnership, product launch, POS, online banking, digital banking

Bitnob introduces the Virtual Dollar Card

News | Cards | 22 Feb 2023

Nigeria-based financial services provider Bitnob has launched the Virtual Dollar Card in order to help its users conduct seamless online payments.

cross-border payments, online payments, product launch, virtual card

Zone taps ThetaRay's AI solution to safeguard payments in Nigeria

News | Digital Identity, Security & Online Fraud | 29 Mar 2023

Nigeria-based blockchain fintech Zone has planned to integrate ThetaRay’s SONAR AI technology to monitor and screen Zone’s transactions in Nigeria.

transaction monitoring, blockchain, fraud prevention, artificial intelligence, fintech

Parallex Bank obtains USD 10 million trade finance facility

News | Online & Mobile Banking | 31 Mar 2023

Nigeria-based Parallex Bank has obtained a USD 10 million trade finance facility from the African Export-Import Bank (Afreximbank).

funding, partnership, banks, trade finance

MAX and vbank partner to drive financial inclusion

News | Online & Mobile Banking | 22 Apr 2022

Nigeria-based clean mobility platform MAX and vbank, a digital bank powered by VFD Microfinance bank, have partnered.

partnership, financial inclusion, banks, digital banking, funding

CBN offers AML guidance for the financial service sector

News | Digital Identity, Security & Online Fraud | 29 Apr 2022

The Central Bank of Nigeria (CBN) has released guidance on anti-money laundering and combating the financing of terrorism.

AML, CFT, regulation, compliance, fraud prevention

Abeg rebrands to Pocket, gets approval as Mobile Money Operator in Nigeria

News | Mobile Payments | 28 Jun 2022

Nigeria-based fintech Pocket has gained an approval in principle (AIP) to drive digital payments and inclusion for micro-entrepreneurs in Nigeria.

mobile payments, mobile money, e-wallet, social commerce, digitalisation

KongaPay, Bibimoney to help 65 mln Nigerians with financial inclusion

News | Online & Mobile Banking | 05 Jul 2022

Nigeria-based KongaPay, a mobile money platform, has signed a deal with Bibimoney, a UK-based mobile wallet provider to onboard 65 million Nigerians to access financial inclusion.

partnership, financial inclusion, P2P, mobile payments, mobile money

Central Bank of Nigeria modifies QR code payments

News | Mobile Payments | 06 Jul 2022

The Central Bank of Nigeria (CBN) has announced a significant adjustment to the QR Code Framework procedure, allowing both merchants and consumers to pay via QR codes.

QR code, QR payments, regulation, mobile payments, online payments, instant payments, central bank

CBN aska FIs to accept Open Banking

News | Online & Mobile Banking | 15 Jul 2022

The Central Bank of Nigeria (CBN) has demanded banks and other financial institutions in Nigeria to embrace opportunities represented by Open Banking to drive financial inclusion in the country, according to The Will.

Open Banking, central bank, regulation

Nigeria could use Mir payments cards

News | Cards | 18 Jul 2022

Nigeria’s ambassador to Russia, Abdullahi Shehu, has announced that Nigeria and Russia are discussing the possibility of using the Russian Mir payment system cards in the African country.

partnership, payment processing, payments , credit card

Nigeria extends eNaira offering to phones

News | Cryptocurrencies | 14 Jun 2022

The Central Bank of Nigeria has announced extending the eNaira service to phones, after the launch of its central bank digital currency (CBDC) pilot in October 2021.

CBDC, digital currency, digital assets, cryptocurrency, central bank, stablecoin

Meta launches a new Metaverse experience in Africa

News | Cryptocurrencies | 28 Nov 2022

US-based Meta has launched its first Metaverse experience in Africa to help Nigerian creators explore new ways to connect with their communities.

metaverse, NFT, product launch, Augmented Reality

Nigeria imposes USD 45 limit on cash withdrawals

News | Payments General | 08 Dec 2022

Nigeria has imposed a limit of USD 45 on cash withdrawals in a move to push consumers towards alternatives, including its own Central Bank Digital Currency (CBDC), the eNaira.

cryptocurrency, central bank, stablecoin, digital currency

Central Bank of Nigeria grants AIP licence to RoutePay

News | Online & Mobile Banking | 19 Jul 2022

The Central Bank of Nigeria (CBN) has granted an Approval In Principle (AIP) licence to RoutePay Fintech to provide digital payment products and services in Nigeria, to ensure financial inclusion.

digital payments, digital banking, mobile money, online platform

Standard Chartered Bank suspends Naira debit cards

News | Cards | 26 Jul 2022

UK-based Standard Chartered Bank, one of Nigeria’s largest commercial banks, has announced that it will suspend the use of its Naira debit card internationally from 1 August 2022.

credit card, debit card, spend management, banks

Nigerians battling digital payments scams, report shows

News | Digital Identity, Security & Online Fraud | 29 Jul 2022

Nigerians embracing digital payments platforms are facing scams and getting hugely exposed to fraudsters, report shows.

fraud management, fraud detection, digital payments, scam

Wema Bank launches SME Business School 5.0. in Nigeria

News | Online & Mobile Banking | 22 May 2023

Wema Bank has announced the launch of its SME Business School 5.0., a programme designed for the development of small businesses in Nigeria.

product launch, product upgrade, online banking, digital banking, mobile banking, financial services, financial institutions, SMEs