DPO Group Issued License to Provide Payment Service in Nigeria

The Central Bank of Nigeria has granted a license to One Payment Limited, a subsidiary of the leading Pan-African digital payments group, DPO Group, to provide certain types of payments services to businesses across Nigeria.

This license allows the DPO Group to operate as an independent payment solutions services provider in Nigeria and over 20 other African countries. Over 60,000 active merchants, including eCommerce companies, airlines, and travel agents, use DPO’s merchant aggregation services. DPO Group is trusted by local and global businesses because its robust and dependable network enables merchants to accept payments in the currency of their choice. DPO works across local and international channels, providing strong fraud protection and assisting merchants with refunds, chargebacks, and other issues.

Due to high levels of internet penetration and being one of the continent’s most prominent digital economies, eCommerce has seen significant growth in Nigeria in recent years. Digital payments account for the vast majority of payment volumes in the country, with volumes expected to reach 7.7 billion by 2025, representing a 45 per cent increase over 2019.

“Nigeria represents a key market for any business with a digital focus, as one of the most innovative African countries when it comes to fintech and eCommerce,” – said Eran Feinstein, CEO of DPO Group.

This new licence is an exciting development which will allow us to offer an even smoother payment process for Nigerian businesses looking to grow and reach more customers through secure digital payments. Network International acquired DPO Group in 2021 in a landmark deal for the African payments space. It operates under the same brand in existing territories and will be launching a new comprehensive payment solution, ‘DPO Pay,’ for businesses across Africa and other regions.

DPO’s country manager in Nigeria – Chidinma Aroyewun, said:

“This licence provides an exciting opportunity for us at DPO. It allows us to work with tens of thousands of Nigerian businesses and help them achieve their growth goals through secure payment technology.”

However, with Flutterwave and Paystack dominating the Nigerian market, this new license will further create a competitive marketplace for the fintech industry in Nigeria. Furthermore, the entry of DPO Group into this market will provide sports betting companies in Nigeria with a plethora of options to work with, as well as the opportunity for betting brands with a pan-African vision to leverage the DPO Group platform across 20 African countries.

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Adeleye Awakan

Author E-play Africa, sports betting reviews, thoughtful leardership articles in Africa gambling industry, marketing gaming platforms in Africa with strong networking relationship with gaming operators in Africa, Expertise in PR, marketing communication, and consultant on gaming in Africa.

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Adeleye Awakan

Author E-play Africa, sports betting reviews, thoughtful leardership articles in Africa gambling industry, marketing gaming platforms in Africa with strong networking relationship with gaming operators in Africa, Expertise in PR, marketing communication, and consultant on gaming in Africa.