The three Nigerian banks Sterling, Providus, and Igangan have been offering Bluecode as a payment option since January 2022. Merchants and customers of the cooperating banks can now use Bluecode Instant as a payment method. Transactions between them go through the Nigeria Inter-Bank Settlement System (NIBSS). Other banks such as the United Bank of Africa and the neobank Kuda have already begun the Bluecode integration.
As a white label solution, Bluecode offers banks and merchants a start in the mobile payment business. According to a Bluecode representative, the company would like to promote the export of European payment innovation worldwide and deliver their 'Payment Scheme-as-a-Service' to the credit industry of the respective countries. This scheme includes acceptance technologies for merchants and their banks, technology for data centre integration, and payer apps.
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