Callphone Gets PSSP Licence, Joins Others In Providing Financial Services

AN integrated payment solutions company, Callphone Nigeria Limited, has been granted licence by the Central Bank of Nigeria (CBN), thereby joining other brands in the financial technology industry to provide a wide range of value-added services to customers.

Callphone which is primarily located at Katampe District, Abuja, is a fintech company that specialises in airtime vending, electronic bill payment solutions and Point Of Sale (POS) terminal services to customers.

With the payment solution service licence granted by CBN, the company says it would continue to deliver world class financial services, seamlessly to its numerous customers across Nigeria and beyond, through its leading edge technology, an experienced and well-equipped service team.

According to Managing Director of Callphone, Mr Ugochukwu Duru, the licence would enable the company offer robust financial services to customers.

He said they came up with the innovation given that people can spend hours going to banks to make financial transactions which they don’t have time for, making them easily resort to using POS services to make transactions.

“We offer value-added services, like money transfer; we also deploy our POS terminals to agents. Right now, due to the new manthra of financial inclusion, we leverage on that to deploy our POS to different agents for people to use their cards for either transfer or withdrawal of cash. You can transfer to any bank, and you pay them for the services,” Duru stated.

He added that the company has built a formidable security in its system to ensure that customers’ data are well protected while making transaction with their platform.

“We have also improved on security of our platforms. We have just passed the certification of PCIDSS (Payment Card Industry Security Standard). It is a requirement that reinforces the security of our platforms.
“In our platform, you can also buy a product with debit cards. By CBN standards and by payment industry standard, we are to protect individuals from unknown persons accessing their data,” Duru disclosed.

“Also, we have a mobile App called ‘Airvend’ through which customers can also access all our services. You can buy your airtime, you pay for cable or DSTV, GoTv subscriptions, and electricity bills for all the Discos in Nigeria,” the Callphone MD further stated.

Payment Services Providers (PSP) are third party merchants who with their technology help in processing financial services such as payment of bills, credit/debit, real time bank fund transfer in an efficient manner.

The growing digitization of the world coupled with the COVID-19 pandemic has boosted electronic financial transaction services, making a lot of fintech companies to spring up as many socio-economic activities have shifted to the online space.