Fintech

Paystack Faces ₦250M Fine from CBN Over Zap Operations

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Paystack is facing a ₦250 million penalty from Nigeria’s Central Bank for allegedly breaching its regulatory licence with the launch of its new product, Zap. Launched in March 2024, Zap enables peer-to-peer money transfers. However, the Central Bank believes the service is operating as a digital wallet, an activity restricted to companies with a deposit-taking …

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How Fintechs Leverage Technology to Enhance the Consumer Experience

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Just a decade ago, accessing financial services often meant standing in long queues at the bank or spending hours on hold with your insurance or investment provider. Fast-forward to today, and the landscape has transformed entirely, thanks to the rapid advancement of financial technology. With just a few taps on your smartphone, you can now …

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