NetPlus has Copped a PTSP License from Nigeria’s Central Bank

Nigerian e-commerce and e-payments company, NetPlus Advisory has obtained a Payment Terminal Service Provider (PTSP) approval from the country’s financial services regulator, the Central Bank of Nigeria (CBN).

The PTSP approval will allow NetPlus to deploy, maintain and provide support for PoS terminals.

In an email interaction with TechCabal, the company says it will leverage on the PTSP approval to boost its e-payment operations in Nigeria.

“NetPlus operates various online platforms for merchants with provision of online payment systems and now hopes to go beyond that to capture in-store payment through mobile POS.”

NetPlus had revealed earlier in the year that it will launch NetPlus Pay, its e-payment component that will enable online payments via bank accounts integrated into the platform.

NetPlus says it is set to release a Mobile POS app integrated with a payment module that will integrate actual in-store payment, as well as online payment such that merchants can view online and offline transaction with one app.

The company recently obtained what it called a “multimillion-dollar” funding from the private equity fund, Synergy Capital. NetPlus kept the actual amount close to its vest, but did say it was going to use the fund to scale its e-payment and ecommerce services and possibly spread across Africa.

On its e-commerce network, WebMall, the company says it is looking to ship out and begin integration for its merchants by July, 2015.

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