2023-06-27 | PSM/DIR/PUB/CIR/001/039

Guidelines for Contactless Payments in Nigeria

The Central Bank of Nigeria has issued guidelines for contactless payments in the country to standardize operations, encourage innovation, and maintain financial stability. The guidelines outline the minimum standards and requirements for stakeholders, including acquirers, issuers, payment schemes, and customers. The bank will determine transaction limits for contactless payments, and stakeholders must implement risk management processes to identify and treat associated risks.

Nigeria

Central Bank of Nigeria

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