Nsano Restricted, a diversified monetary know-how options supplier which at present maintains its deal with constructing customized cellular monetary service purposes for banks and insurance coverage corporations amongst others have been awarded the primary ever Fee Service Supplier (Enhanced) License by the Bank of Ghana.
As a part of efforts to foster soundness within the monetary companies sector, the Ghanaian Central Bank has tightened its controls of the nation’s monetary ecosystem; consolidating and formalizing its oversight of monetary know-how corporations in an effort to promote innovation and progress, with out jeopardizing the protection, safety, and stability, of the monetary companies sector.
The Fee Programs & Companies Act 2019 (Act 987), offers the authorized and regulatory framework for the orderly improvement of Ghana’s cost system and grants the Bank of Ghana the mandate to duly license and supervise monetary know-how corporations working throughout the nation.
Nsano has additionally been offering service provider cost options, providing remittance companies, and taking part in the function of an aggregator in connecting numerous entities to the nation’s cellular cash operators.
The corporate is the primary to have been granted the Bank of Ghana Fee Service Supplier (Enhanced) License. The license, amongst different issues, helps the availability of companies together with digital funds switch, facilitation of interoperability of cost techniques and companies, cost system aggregation, provision of digital platforms for cost or receipt of funds, and the availability of technological companies to facilitate switching, routing, clearing and information administration.
Acquiring the license buttresses Nsano’s place as a progressive business chief, and a formidable know-how associate of monetary establishments, retailers, digital answer suppliers, remittance corporations and different fintechs aiming to be guided to acquire a PSP (Normal) License.
Following its institution in Ghana some years in the past, Nsano launched operations in different markets throughout Africa together with Zambia, Uganda and Cote d’Ivoire, in a gentle try of realizing its imaginative and prescient of processing 50% of Africa’s GDP by 2025.
The PSP license which follows intently after the corporate’s ISO 27001:2013 certification, the revealing of its state-of-the-art Fraud Centre, and the award of the Remittance Grant Facility, is indicative of the corporate’s dedication and adherence to worldwide greatest practices and world class requirements in making certain buyer safety and satisfaction, inhibiting fraud, in addition to contributing its quota to selling digitization, monetary inclusion, and inclusive sustainable financial improvement.
While expressing pleasure on the award of the license, Mr. Kofi Owusu-Nhyira, a director of the corporate, indicated that it was a privileged to serve the nation, notably in such instances when the COVID-19 pandemic has revealed the true essence of digital monetary companies.
He additionally took the possibility to pledge the corporate’s dedication to taking part in its half in innovating and adapting in response to the nation’s monetary know-how service wants throughout these uncommon instances, and to assist the Bank of Ghana in leveraging digital channels to reduce dangers and operational disruptions to each clients and suppliers of monetary companies.