Global fintech, Unlimint is set to launch its operations in Nigeria, after receiving its Payment Solution Service Provider (PSSP) License from the Central Bank of Nigeria.
The UK-based company’s entry into Nigeria comes at a critical time when the country is experiencing an increasing demand for faster and more secure payment solutions. Over the last few years, growth in the fintech industry has prompted companies to recognise the significance of providing diverse payment solutions to their clients.
Speaking on the announcement, Trevor Goott, Director for Africa & India, said: ‘‘The African technology and payments sector has witnessed an exciting transformation over the past few years, with Nigeria being at the forefront of the African payments revolution. The Nigerian economy holds significant potential for fostering the development of innovative organisations such as Unlimint.”
He added: “This launch is the first step in Unlimint’s African market expansion, with other announcements expected to be made over the coming months. We are excited about the endless opportunities our presence in Nigeria will bring for businesses and their customers alike and we look forward to being part of the Nigerian Payments Landscape.”
Recent data revealed that Nigeria’s real-time payment transactions surged 95% in 2021, ranking the country 6th in world’s most developed real-time payments markets. The Prime Time for a real-time report, published by ACI Worldwide, in partnership with GlobalData also stated that with real-time transactions set to rise to 8.8 billion in 2026, net savings for consumers and businesses are forecasted to climb to $2.3 billion.
“We also understand that digital business transactions especially, must be borderless and boundless, as such, its financial infrastructure must be increasingly flexible, timely, seamless, and reliable. Our vision is to create a world where payments are seamless, secure, and accessible to everyone, and our expansion to Nigeria is a significant step towards realising that vision,” Kirill Evstratov, Unlimint’s CEO, added.
