CBN directs PoS transactions to be routed through licensed PTSA within 30 days.

The Central Bank of Nigeria (CBN) has mandated Payment Service Providers (PSPs) to route all Point of Sale (PoS) transactions through licensed Payment Terminal Service Aggregators (PTSAs) within 30 days. This directive aims to enhance transaction monitoring and reduce centralization under a single entity. The CBN has also awarded a second PTSA license to Unified Payment Services Limited to foster competition, amid rising fraud concerns in electronic transactions.

September 12, 2024
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