The Central Bank of Nigeria (CBN), the main financial regulator in Nigeria, has granted Liberty Pay an approval in principle (AIP) as a Super-Agent of the payment solutions service provider.
With the fulfillment of all the conditions stipulated by the CBN, the AIP granted to Liberty Pay is about to be a full commercial license of CBN Payment Solution Super-Agent. The license will allow the company to carry out payment services around the creation and management of wallets, USSD, agent recruitment and management, and any other activities permitted by the CBN.
Liberty Pay is at the forefront of emerging financial inclusion in Nigeria. It is one of Nigeria’s leading digital payment and SME partners, providing a wide range of financial services coverage within mini, micro and multi-SME companies.
Liberty Group Chairman Mr. Otimeyin Igbene says the company will provide direct access to all its products and services through a multiplicity of channels. The company has taken into account a number of diverse factors, such as differences in communication skills, literacy level, territory of operations, age and financial capacity of its users, among others. The President acknowledged that he has begun working with the CBN to meet the conditions for receiving a fully operational business license. Igbene mentioned that the business entity will improve connections between business parties in the payments industry and lead digital payment innovation in a changing business world.
Liberty Pay’s portfolio products include Liberty Pay, which is a core payment product serving the financial infrastructure of small and medium-sized businesses across the country; Other available payment channels include web, mobile, POS, ATM and USSD etc. The company also has a variety of products and services aimed at different market segments and demographics.
According to Mr. Otimeyin Igbene, “The approval of CBN is an achievement of the three fundamental pillars of FINTECH, Competence, Character and Commitment to service. Our primary goal is to provide continuous service and a safe harbor to our customers on a transitional basis to make digital payments easy for our customers. Undoubtedly, today’s technology and trends change at breakneck speed. Our clients have the guarantee of the consistency, reliability and security of their transactions with the use of the best technological practices of the global industry”. He added: “We are making the delivery of digital payment services available to anyone and everyone, regardless of their level of exposure, technological capability, etc.”
The digital payments company is customer-centric and has an epic innovation team that continues to compound, decompose and recompose its product management process to improve the delivery of customer excellence. The company always strives to bring brilliant and exciting products to the market. Senior management strives for creative problem solving, communicating clearly and consciously with a business team, and driving a coherent strategy to meet customer needs. Market trends are dynamic, and that is why we continue to improve our trading tools. We continue to encourage our teams, telling them, ‘that to stay on top, we must be willing to go with the flow and embrace change with open arms.’ Most importantly, develop leadership by fostering team-driven problem solving.”
Liberty Pay is committed to its vision of enhanced services and its mission to improve accessibility in the digital payments industry. This is especially in view of a growing Nigerian consumer market, cross-border trade, etc., which in turn has led to CBN’s being licensed in principle for Liberty Pay. Liberty Pay is very concerned about the well-being of its customers and ready to empathize with them. The company’s focus is to use the FINTECH platform to create consumer value to enhance people’s work and personal lives. Making them think, a faster, richer, healthier, more connected, longer lasting, more productive and more sustainable way of doing business.
“To build a successful business, you must first develop a success mindset, which is why Liberty Pay has four paths to pioneering customer excellence, and they include: Expanding access, increasing diversity, being the strategic advantage, and improving customer service. business flow for customers. Liberty Pay has become a continental co-creator of FINTECH innovation. With this AIP, the year 2023 is a year of expansion. As we work closely with the CBN, the company will unleash a robust package of a number of FINTECH innovations that will broaden our client base and help the regulator achieve greater financial inclusion in the country.” said Mr. Igbene.
