CBN Grants Xpress Payments’ Sister Company, XpressMTS, Mobile Money Operator Licence

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XpressMTS Limited, a subsidiary of Xpress Holdings Limited (parent company to Nigeria’s leading fintech company, Xpress Payment Solutions Limited, aka Xpress Payments), has been granted a mobile money operator licence by the Central Bank of Nigeria (CBN).

This licence allows XpressMTS to immediately commence operations as a mobile money operator in Nigeria, to extend to customers in the segment the unmatched services Xpress Payments has built its hard-won reputation on.

Incorporated on 5 March 2021, XpressMTS is a mobile money company committed to building an ecosystem to enable people to digitally send and receive money with ease, whilst creating simple financial access for everyone everywhere.

XpressMTS is a mobile payment company determined to transform Africa’s payment landscape, by deconstructing all the complexities and myths in Africa’s payment systems and making it simple for Africans to send, access and use money even as they connect to other parts of the world.

CBN Grants Xpress Payments’ Sister Company, XpressMTS, Mobile Money Operator Licence

Through the valuable service XpressMTS will be rendering to society in its unwavering commitment to the Central Bank of Nigeria’s financial inclusion drive, the company will be increasing people’s ability to access funds anywhere and everywhere.

The company will thus be saving time for people, improving security, providing alternative means of saving money, expanding opportunities in financial services and broadening economic growth at the grassroots.

XpressMTS will be deeply involved in growing a network of small businesses as mobile money agents while also creating tools for small businesses to manage money, sales and payments with ease.

Speaking on the mobile money operator licence, the Chief Executive Officer of XpressMTS Limited, Mr Abdulmuiz Awa-Ibraheem, noted that the company was excited to receive the licence, having put all structures in place to deliver unrivalled services to customers in the segment. He stated: “All our systems are rearing to go.

We have in place all that is required to provide an enabling environment to facilitate mobile financial services to the underserved and the unbanked populace, whilst redefining the payments experience for the banked through: Peer to Peer mobile payments solutions (P2P), Merchant Services and Retail Payments, as well as Disbursement Services.”

XpressMTS Limited will be operating both a primary operational site and a functional disaster recovery site. This will ensure the company is able to maintain efficient system uptime and business continuity.