List of POS Operators in Nigeria Approved By CBN

It’s better to get the list of POS operators in Nigeria that CBN has approved to ensure secure transaction

Point of Sale (POS) terminals provide essential payment infrastructure for businesses and consumers in Nigeria. The Central Bank of Nigeria (CBN) regulates POS services and providers in the country.

This article provides a comprehensive list of leading POS operators in Nigeria that are approved and licensed by the CBN as of 2022.

Read Also: How to Get Palmpay POS 2023 [Complete Guide]

Overview of POS System in Nigeria

List of POS Operators in Nigeria Approved By CBN

A POS or point-of-sale system allows merchants and businesses to accept customer card payments. It comprises a terminal device, software, and supporting infrastructure.

Key benefits of POS for businesses:

  • Accept card payments from customers
  • Track sales data efficiently
  • Manage inventory, billing, and reporting.
  • Enable omnichannel payments

For customers, POS allows convenient cashless payments using their debit, credit, and prepaid cards issued by banks.

List of POS Operators in Nigeria Approved By CBN

The CBN introduced guidelines and regulations for POS services in Nigeria. Providers must obtain approval and meet certain capital, infrastructure, and security criteria.

Here are the major CBN-approved POS operators in Nigeria:

1. Interswitch

Ownership: Nigerian company

Year Founded: 2002

Headquarters: Lagos

Interswitch pioneered modern digital payments infrastructure in Nigeria. It was the first to provide POS solutions and payment-switching infrastructure.

Today, Interswitch offers a full omnichannel payments platform, including:

  • POS terminals
  • Payment processing
  • Chip & PIN debit cards
  • Contactless payments
  • Payment gateway

Interswitch powers payments for many leading banks, businesses, multinationals, and government agencies in Nigeria. It has over 200,000 POS terminals deployed nationwide.

2. eTranzact

Ownership: Nigerian company

Year Founded: 2003

Headquarters: Lagos

eTranzact is a leading provider of payment switching and POS infrastructure in Nigeria. Key offerings:

  • POS terminals
  • Mobile POS
  • Payment processing
  • Cards
  • Automated banking services

eTranzact connects consumers, businesses, banks, and other financial service providers through its secure payment network and technologies. It has deployed over 65,000 active POS terminals across Nigeria.

3. Global Accelerex

Ownership: Nigerian company

Year Founded: 2012

Headquarters: Lagos

Global Accelerex provides digital payment solutions, including POS, mobile POS, payment gateways, and more. Some key facts:

  • Deployed over 35,000 POS nationwide
  • Processes payments for top Nigerian banks
  • Advanced Android POS devices
  • PCI DSS and EMV-compliant

Global Accelerex combines robust technology with local market expertise to offer secure, 24×7 payment solutions in Nigeria.

4. Unified Payments

Ownership: Nigerian company

Year Founded: 2013

Headquarters: Lagos

Unified Payments is a leading fintech company providing digital payment infrastructure and services in Nigeria. Key offerings include:

  • POS terminals and mPOS
  • Payment processing
  • Payment gateway
  • Card issuance
  • QR payments

The company serves large enterprises, SMEs, educational institutes, banks, telcos, and government agencies. It has deployed over 15,000 POS terminals across Nigeria.

Read Also: Opay User Guide: How to Use Opay and Get a Free POS

5. Payattitude

Ownership: Nigerian company

Year Founded: 2015

Headquarters: Abuja

Payattitude offers omni-channel payment solutions built on innovative technology. Key services and products:

  • POS and mPOS terminals
  • Payment processing
  • Debit/credit card issuance
  • Merchant onboarding
  • Settlement services

Payattitude serves clients across Nigeria’s banking, retail, education, hospitality, and government sectors. It is a leading POS provider with over 8,000 active terminals.

6. Cellulant Nigeria

Ownership: Pan-African company

Year Founded: 2004

Headquarters: Nairobi, Kenya

Cellulant provides a broad payments ecosystem across Africa, including POS and payment processing solutions. In Nigeria, Cellulant powers:

  • Tingg POS devices
  • Payment processing
  • Settlement reconciliation
  • Merchant services
  • Card payments

Its payment platform connects consumers, businesses, and banks seamlessly. Cellulant has a strong presence across 12 countries in Africa.

7. FirstAtlantic Commerce

Ownership: Nigerian company

Year Founded: 2008

Headquarters: Lagos

FirstAtlantic Commerce offers POS solutions, payment gateways, and other digital payment services in Nigeria. Key offerings:

  • Multifunctional POS terminals
  • Merchant onboarding
  • Payment processing
  • Inventory management
  • Analytics and Reporting

FirstAtlantic serves leading enterprises in the telecoms, transportation, retail, and hospitality sectors. It has deployed over 8,000 POS terminals in Nigeria.

8. Innovectives Nigeria

Ownership: Nigerian company

Year Founded: 2012

Headquarters: Lagos

Innovectives provides an array of payment solutions tailored for the African market:

  • POS and mPOS terminals
  • Payment processing
  • QR Code payments
  • Loyalty management
  • Payment reconciliation

Innovative serves clients across Nigeria’s banking, government, education, retail, and hospitality sectors. It powers payments for over 6,000 POS terminals nationwide.

9. Electronic Settlement Limited (ESL)

Ownership: Nigerian company

Year Founded: 2013

Headquarters: Lagos

ESL offers POS solutions, payment processing, and other digital payment infrastructure to clients in Nigeria:

  • Android-based POS terminals
  • Merchant onboarding
  • Payment switching
  • Inventory management
  • Analytics and Reporting

ESL serves banks, other financial institutions, and large corporations in telecoms, oil and gas, and manufacturing industries.

10. Opay

Ownership: Multinational company

Year Founded: 2018

Headquarters: Lagos

Opay is a leading fintech platform that offers POS and payment services along with other financial solutions in Nigeria:

  • Android POS terminals
  • Payment processing
  • Merchant acquisition
  • Settlements
  • Financial services ecosystem

Backed by major investors, Opay serves SMEs, large corporations, and consumers. It has rapidly deployed over 100,000 POS terminals across Nigeria.

11. Palmpay

Ownership: Nigerian company

Year Founded: 2019

Headquarters: Lagos

PalmPay offers a digital financial services platform, including POS solutions for businesses in Nigeria:

  • PalmPOS terminals
  • Payment processing
  • Inventory management
  • Analytics and Reporting
  • Cashless payments for customers

PalmPay combines technology and local market expertise to drive financial inclusion in Nigeria.

12. Moniepoint

Ownership: Nigerian company

Year Founded: 2019

Headquarters: Lagos

Moniepoint is a fast-growing fintech company that provides payment solutions, including POS services:

  • Android POS terminals
  • Payment processing
  • Merchant services
  • Settlements
  • Financial services ecosystem

Moniepoint leverages technology to make payments seamless for businesses and consumers in Nigeria.

13. KongaPay

Ownership: Nigerian company

Year Founded: 2014

Headquarters: Lagos

In addition to e-commerce, Konga also offers KongaPay, which provides POS and payment processing services:

  • POS terminals
  • Payment processing
  • Inventory management
  • Cashless payments for customers
  • Merchant acquisition

KongaPay facilitates digital payments for merchants and shoppers across Nigeria.

14. NowNow

Ownership: Nigerian company

Year Founded: 2018

Headquarters: Lagos

NowNow provides digital financial services, including POS terminals leveraging AI and big data:

  • NowNow POS
  • Payment processing
  • Data Analytics
  • Cashless payments
  • Merchant services

NowNow uses technology to make payments seamless for banks, businesses, and consumers.

Read Also: How to Get Paga POS Machine (Price and Charges)

To Sum Up

POS systems provide essential payment acceptance infrastructure in Nigeria and enable cashless transactions.

CBN regulations ensure that only approved operators provide POS services by meeting security, capital, and technical criteria.

Leading CBN-licensed POS companies like Interswitch, Global Accelerex, and eTranzact offer robust, large-scale solutions tailored for the Nigerian market.

Other notable players include Opay, PalmPay, Cellulant, Payattitude, Moniepoint, and KongaPay.

These CBN-approved operators power millions of POS terminals deployed across Nigeria, providing businesses and consumers with secure, convenient, cashless payment options.

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