Regulatory Alerts2024-09-11 | PSD/MTC/INT/ADV/005/077Circular to All Payment Service Providers (PSPs) on Connectivity to Payment Terminal Service Aggregators
The Central Bank of Nigeria circulates directives to Payment Service Providers regarding routing transactions from PoS terminals at merchant and agent locations through licensed Payment Terminal Service Aggregators. The CBN grants licenses to two PTSAs to track electronic transactions and mitigate concerns about channeling all PoS transactions through a single aggregator. The circular outlines requirements for Acquirers, PTSAs, Processors, and Payment Terminal Service Providers to ensure compliance and regularization within 30 days.