Following the recent revocation of the operating licenses of 42 microfinance banks (MFBs) in the country, the Central Bank of Nigeria had announced the revocation of licenses of seven payment service providers and one switch service provider due to their inability to meet up with their statutory obligations and conditions of the regulator.
3Line Card Management Limited, Nigeria’s premier financial inclusion fintech firm has disclosed that it opted out of payment transaction switching services because it no longer aligns with its overall business strategy.
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