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Pezesha has submitted a petition to liquidate MarketForce, a troubled B2B eCommerce platform, due to “unpaid debts.” This fresh update follows MarketForce’s $40 million funding announcement in February 2022.
PalmPay has introduced a new security update, mandating new users to include their BVN or NIN numbers before creating a wallet. OPay also disclosed a new update to make it easier for users to authenticate BVN.
M-PESA plans to offer tap-to-pay card payments to customers 18 months after partnering with Visa to launch GlobalPay, a virtual card offering.
Fraudsters are exploiting loopholes in OPay and PalmPay, opening accounts with others’ identities. This alarming trend, raises urgent questions about fintech regulations and consumer safety in Nigeria’s digital finance sector.
Flutterwave hires six executives from Cash App, Paypal, Binance.US, and others a few days after it announced its acquisition of money transfer licences in 13 US states.
The Central Bank of Nigeria (CBN) has directed all financial institutions in the country to suspend the initial processing fees imposed on deposits above ₦500,000 for individual accounts and ₦3,000,000 for corporate accounts.
African fintech startup, Chipper Cash has laid off staff for the fourth time in a year. It says it is doing well and will be profitable in a few months.
Flutterwave has acquired money transfer licences for 13 states in the United States. This move will enable customers to have access to 29 states in the US.
Paystack, quietly obtained a switching license from the CBN early in 2022. This puts some interesting context to the company’s recent product launches.
NIBBS has directed banks and other financial institutions to remove companies that are not licensed to take deposits from its outward transfer list.
GetEquity COO was reportedly detained by the police over unpaid funds to Nigerian startup, Peppa.
Nigerian fintech, Bloc, has received an approval-in-principle from Nigeria’s Central Bank.
Loan defaulters are keeping Nigeria’s digital lenders up at night, but experts say penalties are necessary to stop the development.
In South Africa, Vodacom intends to gradually replace the My Vodacom smartphone app with the VodaPay super app to drive financial inclusion.
Three finance executives have exited Flutterwave following the disclosure of an investigation into the startup by the US SEC in 2017.
Paystack has received necessary licences to expand in to Egypt, Rwanda, and Côte d’Ivoire.
DLM Trust cancels partnership with Patricia to pay ₦2 billion in withheld customer funds
Kippa will shut down its offline payment solution, KippaPay in November, and lay off part of the team in December.
What Nigerian fintech founders can learn from fraudsters In this article, Jude Dike, CEO and Co-founder, GetEquity, dives deep into the struggles of Nigerian fintech that few people are talking about