₦airaland Forum

...I'm not talking about strapping a custom Paystack / Interswith form to my deposit page. How do i get to relay info directly with the Card schemes like Verve, Visa, MasterCard etc., How do i get in contact with an acquiring bank, what procedures are needed, how much are we talking about in expenses.


Please help is welcome from Fintech Experts, Project Managers, Programme managers, programmers and anyone with insights into these area.

Thanks

This is a research you should actually have done before even touching code.
Research 'Payment facilitators' and 'Payment aggregators'

No card scheme is going to give you direct access cos you're too small a startup(high risk). In Nigeria, you'll need to go through Interswitch or Flutterwave. Licensing requirements is being drafted right now so expect huge capital requirements thanks to inept government policies

spikesC:
This is a research you should actually have done before even touching code.
Research 'Payment facilitators' and 'Payment aggregators'

No card scheme is going to give you direct access cos you're too small a startup(high risk). In Nigeria, you'll need to go through Interswitch or Flutterwave. Licensing requirements is being drafted right now so expect huge capital requirements thanks to inept government policies

Thanks, I've always researched and read through the process. I just never really understood it in practical process how to take next steps in this regards.

Thanks. About the licensing requirements can you give a bit of heads-up in that area

FTF2069:
Thanks, I've always researched and read through the process. I just never really understood it in practical process how to take next steps in this regards.

Thanks. About the licensing requirements can you give a bit of heads-up in that area

Here's the draft document

[url]https://www.cbn.gov.ng/Out/2018/PSMD/Circular%20on%20the%20exposure%20draft%20of%20new%20CBN%20licensing%20regime%20(Licence%20tiering)%20for%20payment%20system%20providers%20.pdf[/url]

So basically, prepare to raise investment funds. A lot of funds!

spikesC:
Here's the draft document

[url]https://www.cbn.gov.ng/Out/2018/PSMD/Circular%20on%20the%20exposure%20draft%20of%20new%20CBN%20licensing%20regime%20(Licence%20tiering)%20for%20payment%20system%20providers%20.pdf[/url]

So basically, prepare to raise investment funds. A lot of funds!

Thank you.

.