Having received its Payment Solution Service Provider (PSSP) License from the Central Bank of Nigeria (CBN), fintech Unlimint is going to launch in the Nigerian market
Headquartered in London, Unlimint is preparing to leverage over a decade of its expertise and experience in the global payments industry to deliver tailor-made solutions for the Nigerian market.
The company affirms it has obtained the necessary license from the Central Bank of Nigeria (CBN). It allows Unlimint to legally operate as a payment service provider in the region, delivering payment services and methods for local businesses and their end audience.
The company’s management is excited to join the cohort of firms bringing digital and technological innovations to the fintech and payments sector on the continent. With Nigeria as a starting point, Unlimint is planning to expand to other African countries over the coming months.
Foray into the Nigerian market makes Africa the fourth continent where Unlimint has established its presence, along with Asia, Europe and South America.
Operating since 2009, the company offers a range of financial services such as card issuing and acquiring, BaaS, GateFi fiat payment solution for crypto and DeFi sectors, multi-currency IBAN accounts, as well as corporate cards with a fully visible transaction history and adjustable spending limits.
Unlimint is entering Nigeria at a time when the country’s financial sector is going through major changes. In January, CBN launched Nigerian National Domestic Card Scheme, AfriGo, to rival and eventually replace internationally-accepted foreign cards like Mastercard and Visa and reduce transaction fees on domestic transactions.
In March, the regulator released operational guidelines to clarify responsibilities and expectations for the open banking ecosystem participants in the country.