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Fincra, a Nigerian fintech company specializing in pan-African payment infrastructure, has been granted a Payment System Provider (PSP) license by the Bank of Tanzania and a Payment Provider license in South Africa, in partnership with Nedbank. These licenses mark further expansion for the company in East and Southern Africa.
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The Tanzanian PSP license, issued under the Payment Systems Licensing and Approval Regulations, 2015, permits Fincra to operate regulated payment systems in the United Republic of Tanzania, enabling the provision of payment services to businesses in the region.
In South Africa, the Payment Provider license, secured with Nedbank, designates Fincra as a Third Party Payments Provider (TPPP). This authorization allows the company to process transactions including credit card payments, debit card payments, Electronic Funds Transfers (EFT), Real-Time Clearing (RTC), and Rapid Payments.
Fincra has also acquired payments and remittance licenses in West, South, and East Africa over the past two years, including licenses as an International Money Transfer Operator (IMTO) and Payment Service Solution Provider (PSSP) from the Central Bank of Nigeria.
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