This licence enables the DPO Group to operate as an independent payment solutions services company in Nigeria as it does across over 20 other countries in Africa. DPO offers merchant aggregation services to over 60,000 active merchants, including ecommerce companies, airlines, and travel agents.
According to the company, local and global businesses trust DPO Group because its network allows merchants to accept payments in the currency of their choice. Working across local and international channels, DPO also offers protection against fraud and augments merchants to manage refunds, chargebacks, and more.
Ecommerce has seen significant growth in Nigeria in recent years, due to high levels of internet penetration combined with being one of the largest digital economies on the continent, according to the press release. Digital payments make up most payment volumes in the country, and volumes are expected to reach 7.7 billion by 2025, representing a growth of 45% from 2019, according to data put forth in the press release.
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