Pss licence cbn
WebBy obtaining a PSS Licence, a fintech can carry out a range of activities that could position it as a strong player in the ecosystem. CONCLUSION Although EPS such as cryptocurrency and digital currencies were not addressed, the introduction of the NPS Circular by the CBN is commendable and introduces a level of certainty to the fintech ... WebMay 26, 2024 · These are the capital requirements for Switching and Processing Licence. 1. N2,000,000,000.00 (shareholders’ funds unimpaired by losses) 2. Preceding 3-years audited financial statements of the company (If applicable) 3. Escrow of refundable N2bn into CBN PSP Share Capital Deposit Account No. 1000014009.
Pss licence cbn
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WebNov 19, 2024 · The capital requirements for prospective PSS licensees include an application fee of NGN100,000, a licencing fee of NGN1,000,000, a refundable sum of up to NGN250,000,000 in escrow (depending on... WebDec 11, 2024 · The Central Bank of Nigeria (CBN) has approved a new license categorization system for the Nigerian Payment System. The apex bank made this known in a press release published on its website and dated 9th December 2024. According to the CBN, the license categorization is meant to help promote a strong and credible payment system and offers ...
WebJan 31, 2024 · Clane Secures Payment Solution Service (PSS) Licence from Regulator By Partner Jan 31, 2024 Clane, a leading provider of mobile payment solutions in Nigeria, is proud to announce that it has been issued a Payment Solution Service license by the Central Bank of Nigeria (CBN). WebNEW CBN LICENCING REQUIREMENTS FOR PAYMENT SERVICES Governor, Central Bank of Nigeria: Mr. Godwin Emefiele Service (PSS) 1. Shareholders’ funds unimpaired by losses 2. Payment systems companies in the PSS category may hold any of PSSP, PTSP and Super Agent license or a combination of the licenses. Licence Categories Capital Requirement s
WebApr 14, 2024 · The Central Bank of Nigeria (CBN) has granted a two-in-one licence to a fintech platform, Fountain Payment Systems and Solution, to operate as a payment solution provider across multiple payment categories in Nigeria. ... (PSS) licence category in Nigeria. “This development reflects Fountainpay’s commitment to driving financial inclusion by ... http://www.jacksonettiandedu.com/wp-content/uploads/2024/05/New-CBN-Licensing-Requirements-for-Payment-Service-Providers.pdf
WebApr 12, 2024 · April 12, 2024 Regulatory compliance: CBN grants FountainPay commercial license In a recent development, Fountain Payment Systems and Solution, a fintech …
WebApr 5, 2024 · The Central Bank of Nigeria (CBN) has issued Traction, an MSME fintech platform, a three-in-one licence to operate officially as a payment solution provider across various payment categories.... can you be laid off while on disability leaveWebIndividuals employed by an S-license holder must obtain a Certificate of Clearance prior to engaging in Security work. To obtain a Certificate of Clearance for employees, the S … can you belay yourselfWebJun 1, 2024 · Super Agent License – N50 million in shareholder capital and N50 million in escrow paid to the CBN PSP Share Capital Deposit Account. The CBN, with its commitment to constant monitoring and evaluation of the payments subsector, is ensuring efficiency and looking to improve the corporate governance of industry players. can you be late on your deadline for collegesWebNov 7, 2024 · cleared. The launch of the regulatory sandbox will enable fintech’s and innovators to apply to the CBN to have their new products tested in the sandbox environment and fintechs who obtain a PSS license can now carry out a myriad of functions and become key players in the ecosystem. As3 only MNOs can hold can you be lesbian and bisexualWebJun 26, 2024 · The validity of this licence is also determined by the CBN subject to satisfactory performance of operations. 3. PAYMENT SOLUTIONS SERVICES (PSS) The Payment Solutions Services is comprised of Payment Solutions Service Provider licence, Payment Terminal Service Provider Licence and the Super Agent Licence. An applicant … can you be late on car insuranceWebApr 12, 2024 · This latest license from the CBN marks a significant milestone in the fintech industry, with FountainPay being among the first to receive this dual license in 2024. ... (PSS) license category in ... brier house fireWebMay 23, 2024 · ‘I am delighted to announce our acquisition of the final PSS license. With this, we become the pioneer of this licence categorization after meeting all mandatory requirements including escrowing the minimum capital requirement of N250 million to CBN as one of the licensing prerequisites. can you be late on your period