The Central Bank of Nigeria (CBN), Nigeria’s financial apex regulator has granted Liberty Pay an Approval In Principle (AIP) as Payment Solution Service Provider Super-Agent.
With the fulfilment of all the conditions stipulated by the CBN, the AIP given to Liberty Pay is at a step of being a fully commercial license CBN Payment Solution Super-Agent. The license will enable the company to carry out payment services around wallet creation and management, USSD, agent recruitment and management, and any other activities as permitted by the CBN.
Liberty Pay is at the forefront of emerging financial inclusiveness in Nigeria. It is a foremost Nigeria digital payment and SME partner as it provides a wide range of financial services coverage within the mini, micro and a network of various SME businesses.
The Liberty Group Chairman, Mr. Otimeyin Igbene affirms that the company will be providing direct access to all its products and services using multiplicity of channels. The company has taken into consideration a host of various factors such as differences in communication skills, literacy level, territory of operations, age, and financial capacity of its users among others. The Chairman acknowledged that it has commenced working with the CBN to meet the conditions for receiving a full operating commercial license. Igbene mentioned that the business entity will enhance connections between trade parties in the payment sector and lead the innovation of digital payment in a changing world of business.
The portfolio products of Liberty Pay includes Liberty Pay, which is a core payment product that caters to the financial infrastructure of small and medium businesses across the country; Other available payment channels includes Web, Mobile, POS, ATM, and USSD, etc. The company also has an array of products and services targeting different market segments and demography.
According to Mr. Otimeyin Igbene, “The CBN approval is an achievement of the three fundamental pillars of FINTECH, Competence, Character and Commitment to service. Our core objective is to deliver seamless service and safe harbor to our clients in a transitional way that digital payments are made easy to our clients. No doubt, technology and trends today change at breakneck speed. Our clients are assured of consistency, reliability and safety of their transactions with the use of the best global industry technology practice.” He added, “We are making digital payment service delivery available to all and sundry irrespective of their level of exposure, technological capacity and so on.”
The digital payment company is customer focused and has an epic innovation team that continues to compose, decompose and recompose its product management process for improved customer excellence delivery to the customer. The company consistently thrives on offering brilliant and fascinating products to the market place. The top management endeavors to achieve creative problem solving, communicate clearly and conscientiously to a business team and steering a coherent strategy toward meeting customers’ needs. Market trends are dynamic, and that is why we continue to improve our tools of trade. We continue to encourage our teams, saying to them, ‘that to stay on top, we must be willing to go with the flow and embrace change with open arms’. Importantly, building leadership by fostering team driven problem solving.”
Liberty Pay is committed to its vision of improved services and mission of improved accessibility in the digital payment industry. This is especially in view of a growing Nigerian consumer market, trade across borders etc which has in turn led to the attainment of the CBN Approval in Principle license for Liberty Pay. Liberty Pay is very much concerned about the welfare of its customers and ready to identify with them. The company’s focus is on using FINTECH platform to drive consumer value to make people's work and personal lives better. Making them think, faster, richer, healthier, more connected, longer, more productively, and more sustainable way of doing business.
“To build a successful business you must first build a successful mindset, this is why Liberty Pay has a four pathway to pioneering customer excellence, and they include: Expand Access, Increase Diversity, Be the Strategic Advantage and Enhance More deal flow for clients. 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 firm shall unleash a robust pack of a series of FINTECH innovation which shall expand our client base and help the regulator achieve more financial inclusiveness in the country.” Mr. Igbene said.