2022-10-26 | PSM/DIR/PUB/CIR/01/040

Guidelines for Contactless Payments in Nigeria

The Central Bank of Nigeria has released draft guidelines for contactless payments in the country, with the aim of standardizing operations, encouraging innovation, and maintaining financial stability. The guidelines outline the minimum standards and requirements for stakeholders, including acquirers, issuers, payment schemes, and customers. The bank will set transaction limits for contactless payments, and stakeholders are expected to comply with the guidelines and relevant regulations to avoid sanctions.

Nigeria

Central Bank of Nigeria

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