Interswitch Group Secures Prestigious PSHC License from Central Bank of Nigeria

26 Jan 2023

In a major milestone for Africa's leading financial technology and integrated payments solution provider, Interswitch Group has secured a Payments Service Holding Company (PSHC) License from the Central Bank of Nigeria (CBN). This license, which is part of new licensing categories for participants in the Nigerian Payments System, establishes Interswitch as one of the inaugural licensees in this category.

As per the PSHC regulation, companies with existing or prospective operations across multiple license categories are required to set up a payments service holding company. This ensures clearer accountability, effective risk management, and better regulatory oversight by the CBN.


Interswitch's Group Holding Company will retain ownership of the PSHC in Nigeria as well as its other subsidiaries outside of Africa. 

This development coincides with Interswitch's 20th-anniversary commemoration, marking two decades of pioneering and supporting the growth and development of fintech and payments across Africa.
Interswitch continues to push boundaries and facilitate the creation of new ecosystems that help businesses and individuals scale and thrive, in line with its mission of inspiring Africa to greatness through innovation, value-creation, and excellence.

Related Post

Dell Technologies acquires Israeli startup Cloudify for $100 million to enhance cloud solutions

Dell Technologies announced today that it has acquired Israeli startup, Cloud...

Interswitch Group Secures Prestigious PSHC License from Central Bank of Nigeria

In a major milestone for Africa's leading financial technology and integr...

Logo

Accelerating the growth of Africa's tech ecosystem

Copyright © 2023