A subsidiary of the Pan-African digital funds group DPO Group is to function as an impartial fee options companies firm in Nigeria following licencing approval from the nation’s central financial institution.
One Fee Restricted will now have the ability to present sure varieties of funds companies to companies throughout Nigeria, having been granted a licence by the Central Financial institution of Nigeria.
This licence will allow the DPO Group to function as an impartial fee options companies firm throughout the nation, simply because it presently does throughout over 20 different nations in Africa.
Offering service provider aggregation companies to over 60,000 lively retailers, together with eCommerce firms, airways and journey brokers, DPO has retained its shoppers’ confidence as a result of its community permits retailers to simply accept funds within the foreign money of their selection. Working throughout native and worldwide channels, DPO additionally gives robust safety towards fraud, helping retailers in managing refunds and chargebacks.
eCommerce has seen vital development in Nigeria in recent times, because of excessive ranges of web penetration mixed with being one of many largest digital economies on the continent. Digital funds make up the big majority of fee volumes within the nation, and volumes are anticipated to succeed in 7.7 billion by 2025, representing a development of 45 per cent from 2019.
Talking on the brand new licence, DPO Group’s CEO Eran Feinstein feedback: “Nigeria represents a key marketplace for any enterprise with a digital focus, as some of the progressive African nations with regards to fintech and eCommerce. This new licence is an thrilling improvement which can enable us to supply a fair smoother fee course of for Nigerian companies seeking to develop and attain extra prospects via safe digital funds.”
The African funds house noticed a brand new landmark deal made in 2021, when DPO Group was acquired by Community Worldwide. It continues to function below the identical model in present territories, and will likely be launching a brand new complete fee resolution, ‘DPO Pay’ for companies throughout Africa and different territories.
DPO’s nation supervisor in Nigeria – Chidinma Aroyewun stated: “This licence offers an thrilling alternative for us at DPO. It permits us to work with tens of hundreds of Nigerian companies and assist them obtain their development targets via safe fee know-how.”
