• About
  • Advertise
  • Careers
  • Contact Us
Tuesday, July 1, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home Economy Fintech

Unified Payments Targets 99.9% Payment Terminal Service Delivery

…As a PTSA Licence Holder

by Staff Writer
June 24, 2024
in Fintech
0
Unified Payments
UBA
Advertisements

Unified Payments Services Limited, Nigeria’s premier fintech service provider, has targeted 99.9 per cent payment terminal service delivery, as the country’s second Payment Terminal Service Aggregator (PTSA) licence holder.

Recall that the Central Bank of Nigeria (CBN), through a public bid process in its publication of Friday, January 5, 2024, called on different operators to bid and compete for the PTSA licence. Following a rigorous and transparent process, the CBN awarded the second PTSA license to Unified Payments Services Limited.

Agada Apochi, GMD, Unified Payments
Advertisements
MTN ADS
Dr. Agada Apochi, GMD, Unified Payments

Dr. Agada Apochi, the managing director and CEO of Unified Payments, at a media parley, over the weekend, in Lagos, discussed the future prospects of the new licence obtained by the company, while assuring seamless, simple and effective ecosystem, free from financial crimes and other market misconduct.

Apochi disclosed that since obtaining the PTSA licence, Unified Payments has rolled out plans, adding that different operators have connected to its PTSA platform, for the purpose of ensuring seamless and secured transactions.

“As a PTSA licence holder, we are improving national infrastructure. Our approach to the market is not that of competition. We do not see ourself as competitor, but as an enabler. Our PTSA platform is for everyone to collaborate, co-habit and grow payment services in Nigeria,” he revealed.

Speaking on the role of Unified Payments as a PTSA, the CEO said,

“Our role is that of an enabler, to help different industry operators and service providers offer their services and solutions in compliance with policy and regulatory frameworks as defined by CBN. We as PTSA will help the government, through the CBN, to have an oversight over transactions that happened at the Point of Sales (POS) and through that, we will be able to help members of the public to manage different misconducts.”

He highlighted the inability to have full oversight over transactions, as a major challenge in the e-payment industry.

Explaining further, Apochi said,

“When transactions don’t go through, it was difficult to follow such transactions. For instance, you withdraw money from an agent or you made a purchase at a marchant. You have been debited but the money has not dropped in the seller’s account. It was difficult to say that the transactions must have gone through a PTSA. As a business offering services to the public or as a member of the public that use such services, there is no certainty that when transactions go wrong, you can be certain where the money is.

“With this licence however, all online transactions have to go through PTSA, making it easier to follow the money and that means there will be greater level of confidence on e-payment industry, not just by members of the public that are users, but for businesses that offer the service, regulators and law enforcement agencies. When there is a verifiable footprint of transactions at POS, then it becomes possible to trace fraudsters.”

On how quickly an issue can be resolved, the CEO said there are industry standards, adding that the commitment from Unified Payments, as a platform that enable businesses to do transactions at POS devices, is that, there will be 99.9 per cent service availability. “If the service is available and transactions don’t fail, then we will not be discussing reversal of fund. For reversal of fund to happen, it means there is first, a service failure, which we are tackling with this new license,” he posited.

With only two PTSA license holders in Nigeria, Apochi assured that payment services will be more effective, while seeking collaboration from all stakeholders in the industry. “There are only two PTSA license holders in Nigeria and since obtaining the license, we have been talking with the other aggregator, to define areas of collaboration, so that we work together and build a bigger ecosystem that is safer, more resilient and meet the needs and aspirations of different businesses that will be using our platforms.”

Loading

Author

  • Staff Writer
    Staff Writer

    View all posts
0Shares
Staff Writer

Staff Writer

Next Post
Jumia Nigeria Celebrates 12 Years of Empowering Consumers through E-commerce, Q2 2024 | Baillie

Jumia Nigeria Celebrates 12 Years of Empowering Consumers through E-commerce

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Verve Life 5.0 is Here

3 years ago

Konga Food Goes Live, Offers Customers Free Delivery, other Incentives

3 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.