One Payment Limited is a DPO Group wholly-owned company. The Group provides businesses in Nigeria and the rest of Africa with payments services. Now, its subsidiary has received a license to start providing payment services in Nigeria too.
Some 60 000 active wholesale traders like airlines, eCommerce firms, and travel agencies already rely on DPO Group. This is because their merchant aggregation amenities are so trustworthy and robust. It allows vendors to accept payments in whatever currency they select, and it works across both local and intercontinental channels. It also offers excellent protection against fraud and helps retailers with chargebacks, refunds, and other issues.
A Rise in eCommerce
Nigeria has elevated levels of internet penetration, and it has one of the foremost digital economies in Africa. This has seen eCommerce enjoying noteworthy growth recently. Digital transactions currently make up most payment volumes locally. These digital transactions are expected to reach almost 8 billion by 2025. This is a 45% increase over tallies in 2019.
With Flutterwave and Paystack playing such a dominant role in the Nigerian market, DPO Group’s new license will add much-need competition in the Fintech marketplace. Their entry will allow Nigerian betting companies access to far more options too. Plus, it will give other sportsbook operations the chance to expand their horizons across 20 African countries. These countries will include Botswana, Ethiopia, Lesotho, South Africa, and Tanzania.
DPO Group Thrilled
DPO Group was acquired by Network International in a watershed 2021 deal, but it continues to operate under the brand name its already known by. Eran Feinstein, the Chief Executive Officer of DPO Group, called Nigeria a key market for digitally focused businesses. He went on to say that this country is one of the most advanced and original in Africa in terms of eCommerce and Fintech.
Feinstein added that receiving this license is exciting because it allows his company to offer an even better payment process. In fact, the organization will soon be debuting a brand-new solution called DPO Pay. Chidinma Aroyewun is the Nigerian DPO Group Country Manager and echoed Feinstein’s enthusiasm. She called receiving the permit an exhilarating opportunity for her team and mentioned that it has allowed them to start working with tens of thousands of Nigerian businesses. She added that their goal was to ensure that these establishment’s growth goals were achieved more easily due to safe payment solutions.