Callphone Limited becomes the first Fintech company to be granted the CBN’s Payment Solution Service (PSS) licence to operate as a PSSP, PTSP, and Super-Agent in Nigeria.
Callphone Limited, a premier financial technology brand in Nigeria, has been granted the final approval license to operate under the Payment Solution Service (PSS) licence category as a PSSP/PTSP/Super Agent in Nigeria. This final licence approval, dated 25th of April, 2022 came approximately 5 months after the company was given Approval-in-Principle (AiP) back in November, 2021.
Callphone Limited was incorporated in 2015 and has since then worked hard to design and develop products fit for individuals and businesses of all sizes. With each step forward, they’ve obtained the necessary licenses to back up their services and better serve clients.
The company’s licenses include the Nigerian Communications Commissions’ (NCC) Value Added Services Licence, which empowers them to provide value-added services using shortcode numbers with the allocation of USSD *174#. The company is also in an SLA with all the Mobile Network Operators (MNOs) that grants them direct connectivity to all Nigerian MNOs as an aggregator. Callphone Limited has the NCC Sales & Installation Licence and the Payment Card Industry Data Security Standard (PCI DSS) Certification. They are duly certified by the Nigeria Inter-Bank Settlement System Plc (NIBSS).
Callphone Limited is the sole distributor of SZZT Electronics and Smart POS and Payment Terminals in Nigeria. Currently, it’s a partner with EEDC, Aba Power, MTN, Airtel, Glo, and 9 Mobile, delivering quality value-added services to the Nigerian populace.
Over the years, Callphone Limited has launched several customer-centric products actualizing CBN’s financial inclusion goal in line with the National Financial Inclusion Strategy.
Airvend (Web App, Mobile App, and USSD code – *174#) makes value-added services (VAS) payments seamless. Airpay, an application developed to run on Smart (Android) POS terminals for Super Agent and Merchant banking. Airgate, an easy-to-integrate API payment gateway infrastructure that helps brands collect payments via web assets. The Universal Recharge Voucher generator, generates recharge card pins that recharge all networks; which can be used for self or as a means of making money selling recharge cards.
With this license, the company becomes the pioneer of this license categorization.
This PSS license acquisition marks a new era for the company, its customers, and the entire Nigerian Fintech industry. This means, for the first time in Nigeria, a company is fully licensed to operate as a Payment Terminal Service Provider (PTSP), Payment Solutions Service Provider (PSSP), and Super Agent in Nigeria.
For the company, this is a call to do more; for Nigerians, a promise of improved solutions, and for the Fintech industry, a step in the right direction towards building a much better inclusive ecosystem.
According to the company’s MD/CEO, Precious Chidozie Ekezie, he expresses his excitement by saying;
‘I am delighted to announce our acquisition of the final PSS license. With this, we become the pioneer of this license categorization after meeting all mandatory requirements including escrowing the minimum capital requirement of N250 million to CBN as one of the licensing prerequisites. We were able to achieve this through the continuous support of the company board, dedicated management team, and wonderful staff that aligns with the mission, vision, and committed to the growth of the company.’
He went ahead to highlight the importance of the license and restated the company’s commitment to driving the financial inclusion gospel to every corner of the continent.
The PSS license takes Callphone a step further toward achieving its goal of building a reliable and reputable financial service company. The company’s mission of providing seamless financial transactions to customers and partners is in line with the Central Bank of Nigeria’s financial inclusion policy and this license provides a quantum leap to the growth of this company as it works towards contributing its quota to strengthen and intensify the Fintech reach and creating new possibilities in the financial technology sector in Africa.
The chairman of the company Nze Chidi Duru believes that this current milestone marks the next step in the company’s journey of providing seamless financial transactions to customers, partnering with more growth-focused brands, and intensifying its position as the foremost payment solution service provider in Nigeria.
