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UK fintech secures Nigerian PSSP license for competition.

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London-based fintech brand, Unlimint, said it has received a Payment Solution Service Provider (PSSP) license from the Central Bank of Nigeria (CBN). The company sets the stage for its commencement of operations in Nigeria.

When it launches, the company will be competing with the likes of Flutterwave, Appzone, and many other existing companies operating in Nigeria with the PSSP license.

Unlimint said the license allows it to operate as a recognized payment service provider in Nigeria, enabling the delivery of a wide range of payment services and methods that will help local businesses expand their reach to a local and global audience.

According to CBN’s licensing guidelines, an organization with a PSSP license is permitted to operate payment gateway and portals, develop payment solutions and applications, and provide merchant service aggregation and collection.

Why Unlimint wants to be in Nigeria

Commenting on the licensing in Nigeria, Unlimint’s Director for Africa & India, Trevor Goott,  expressed immense satisfaction with the expansion, citing the organization’s vision to be a key player in the region, and riding on the wave of the digital and technological innovations sweeping across the financial technology and payments sector within the African continent.

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He added that the launching in Nigeria is the first step in Unlimint’s African market expansion, with other announcements expected to be made over the coming months.

Also speaking on the expansion to Nigeria, Unlimint’s CEO, Kirill Evstratov, said:

Founded in 2009, Unlimint is a global fintech company that offers a large portfolio of financial services, including payment processing, banking as a service (BaaS), and an on-ramp fiat solution for crypto, DeFi, and GameFi. The London-headquartered company currently has 500 employees across 16 offices and five continents, including Frankfurt, Singapore, São Paulo, Hong Kong, and Mexico.

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