The Central Bank of Nigeria (CBN) has issued a Payments Service Holding Company Licence (PSHC) to Chams Holding Company Plc (Chams HoldCo) based on the company’s strong electronic payment licences’ capability over the past few years.
The licensed firm is one of Nigeria’s leading identity management and digital payment solutions provider that over the past years has been promoting digital payment through its various solutions.
Commenting on the latest recognition of the company by the monetary authorities, its Group Managing Director, Mayowa Olaniyan, said: “Chams HoldCo was granted the PSHC licence on Friday, January 13th, 2023 by CBN and also renewed both Switching and Mobile Money Operators (MMO) licenses for the subsidiaries.
“The need for the PSHC license is to establish a business institution that will further increase the pivotal role of the company in the payment industry across Africa and ensure global relevance.
“Chams HoldCo has a primal focus of growing its consumer and digital payments solution as it expands other potential and current investments in the digital space. We have significantly improved the value of our assets at Chams HoldCo”, she added.
The e-payment solutions expert disclosed that one of the subsidiaries – Chamsswitch Limited – had partnered with three major card schemes for card processing and also implemented two B2B products, namely Kardit and PelPay.
According to her, the card processing and implementation capacity had increased the firm’s transactional payment volumes just as Chamsmobile Limited is one of the leading mobile money operators (MMOs) operating under the brand name Kegow in the country.
Olaniyan expressed the company’s board and management’s appreciation to the CBN for certifying and granting ChamsHoldCo the payment licence and restated the firm’s commitment to driving innovative FinTech solutions into the nation’s financial system.
