Cellulant Nigeria has finally been granted a Payment Solution Service Provider (PSSP) license by the Central Bank of Nigeria (CBN) in a move that will see it power e-payments for banks, online merchants, payment processors, retailers, state governments and consumers.
This approval makes Cellulant one of the 7 companies that make up the underlying e-Payment infrastructure in Nigeria and tasked with increasing the uptake of e-Commerce, mobile commerce and digital payments in Nigeria.
“The future of Africa’s payment landscape is digital. Our consumers and businesses alike are steadily moving to use digital payment solutions that are transparent and give them access to their money with ease. Our job is to make sure that we provide payment solutions across all spectrum of Nigeria’s payment ecosystem,” said Mr. Bolaji Akinboro, Cellulant Corporation’s co-founder and the CEO of Cellulant Nigeria.
“We are building a payments network in Nigeria that delivers quality, robust and secure solution. This approval from CBN is a pathway for Cellulant to ensure that Nigerians have a strong payment infrastructure that supports Nigeria’s vision 2020 especially as it pertains to digitizing payments within Agriculture and adjacent payment verticals such as transport & logistics.”
The development will see Cellulant’s blockchain-based Tingg and AgriKore expand across the country. Tingg is used by millions of Nigerians to access financial services. Businesses, banks and government agencies leverage on Tingg to perform the last mile payment for farmers and the unbanked in the rural areas.
On the other hand, AgriKore is used by governments, private sector companies, farmers and merchants across Africa and Asia to ensure end to end electronic payments in Agriculture and other consumer facing value chains. Cellulant aims to scale both products across Nigeria in the coming months.