CBN Approves Fintech Payment Services

Connect Point Technology Solutions Limited, a financial technology organisation, has received regulatory approval to operate a Payment Solutions Service licence category.

The firm said it has been granted approval to operate a PSS license category as a super-agent in Nigeria, according to a letter dated April 25, 2022, signed by the Director, Payments System Management Department, the Central Bank of Nigeria

It stated, “The organisation acknowledges that this is the first step in the process towards the issuance of a final approval, subject to the fulfilment of conditions stipulated by CBN in the letter.

“Recognising that it is within the rights of CBN to issue the final approval, Connect Point would focus on ensuring that its activities meet the stipulated conditions for that final approval.

“Connect Point Technology Solutions has a mission of leveraging technology in providing reliable payment services through agent banking and retail solutions while meeting the needs of every customer.

"Its products are designed to promote financial inclusion in Nigeria and across Africa.”