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 (CBN) is directing all payment service providers (PSPs) to connect to licensed Payment Terminal Service Aggregators (PTSAs) to track electronic transactions in the country. This directive aims to address concerns about channeling all Point of Sale (PoS) transactions through a single aggregator. PSPs must ensure compliance within 30 days to avoid sanctions.