One Payment, a subsidiary of DPO Group, has been granted a license by the Central Bank of Nigeria to provide certain types of payments services to businesses in Nigeria.
The license enables the DPO Group to operate as an independent payment solutions services company in Nigeria as it does across over 20 other countries in Africa. DPO offers merchant aggregation services to over 60,000 active merchants, including eCommerce companies, airlines and travel agents.
Local and global businesses trust DPO Group because its robust and reliable network allows merchants to accept payments in the currency of their choice. Working across local and international channels, DPO also offers strong protection against fraud and helps merchants manage refunds, chargebacks and more.
eCommerce has seen significant growth in Nigeria in recent years, due to high levels of internet penetration combined with being one of the largest digital economies on the continent. Digital payments make up the large majority of payment volumes in the country, and volumes are expected to reach 7.7 billion by 2025, representing a growth of 45% from 2019.
Eran Feinstein, CEO of DPO Group, commented: “Nigeria represents a key market for any business with a digital focus, as one of the most innovative African countries when it comes to fintech and eCommerce. This new licence is an exciting development which will allow us to offer an even smoother payment process for Nigerian businesses looking to grow and reach more customers through secure digital payments.”
DPO Group was acquired by Network International in 2021 in a deal for the African payments space. It continues to operate under the same brand in existing territories, and will be launching a new comprehensive payment solution, ‘DPO Pay’ for businesses across Africa and other territories.
DPO’s country manager in Nigeria, Chidinma Aroyewun said: “This licence provides an exciting opportunity for us at DPO. It allows us to work with tens of thousands of Nigerian businesses and help them achieve their growth goals through secure payment technology.”
DPO Group is an African digital payments company operating in over 20 countries. DPO has developed the technology to enable businesses and individuals across the continent to make payments online and offline with all currencies and payment methods. DPO Group currently works with over 100,000 merchants, including businesses in the eCommerce and the travel and leisure sectors. The company was founded in 2006 and since then it has grown to be a pan-African PSP with more than 400 employees. By providing its merchants with the capacity to make and accept payments effortlessly, DPO Group aims to support financial inclusion and economic development on the continent.
Be the first to comment