CBN grants Xpress Payments a license for mobile money

The Central Bank of Nigeria has granted Xpress Payments, a subsidiary of Xpress Holdings Limited, a license to operate a mobile money service.

According to a statement, the license enables XpressMTS to immediately begin operating as a mobile money operator in Nigeria. This enables XpressMTS to provide the unparalleled services on which Xpress Payments has built its reputation over the years to customers in the sector.
Mr. Abdulmuiz Ibraheem, Chief Executive Officer of XpressMTS Limited, made the following statement regarding the mobile money operator license: “The company has put all the structures in place to deliver unrivaled services to customers in the segment.”
“All of our systems are ready to go,” he stated.Through “peer to peer” mobile payments solutions, merchant services, retail payments, and disbursement services, as well as disbursement services, we have all that is required to provide an environment that facilitates mobile financial services for the underserved and unbanked populace.
XpressMTS Limited would run both a primary operational site and a disaster recovery site, according to the statement.This would guarantee the company’s ability to maintain business continuity and efficient system uptime.
In addition, the financial institution was developing an ecosystem that would make it simple for individuals to send and receive money digitally and provide easy financial access to everyone worldwide.