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Recently, On the 18Th of july, 2013. The Central Bank of Nigeria (CBN) Representatives pays a visit to Globasure Technologies Limited on Certification and Licencing for payment terminal service providers(PTSP). 

The aim of the visit is to ensure that the company is fit to be licence as a Payment Terminal Service Provider.

Being Satisfied by the activities and methods of operation as required by the CBN’s cashless policy, The CBN has therefore officially granted a Payment Terminal Service Provider licence to Globasure Technologies Limited.

A PTSP is an entity in the Nigerian payment space licensed by the CBN and charged with responsibility to ensure effectiveness of Point of Sale operations and a proper support and maintenance infrastructure.

The CBN official stated that  after screening of several applicants by the apex bank, Globasure Technologies Limited was among the top rated high and was then selected, adding that the process was transparent and lauded by participants passing all laid down rules of the CBN necessary for the smooth running of the Cashless Policy.

The recipient Mr Chris Ife, the MD/CEO of the company filled with gratitude for the recognition and the worthy recommendation in a statement said, This is a welcome development to the history of the company, the development has made the company poised to extend its payment acceptance infrastructural services to all acquires and merchant in Nigeria. “with our many years of experience in payments, we are very well positioned to make a huge success of this project and ensure that Nigeria achieves a cashless economy” he added. 

The Head of Operations and Merchant Service Department Mr Ehis Okpaireh, said: Globasure Technologies Limited is working very effectively and would use their services-secure Technological Platform to enable Nigerians conduct cashless transactions in the country and around the world as a joint acquiring company for Nigerian banks with its secure and reliable acquiring network. 

The MD/CEO of the company Mr Chris Ife continue further that “In demonstration of our support for the laudable initiatives of the CBN Cashless Policy, Globasure will invest significantly in creating acceptance infrastructure, work with various Stakeholders to establish its presence in all major towns and cities in Nigeria.

According to Mr Chris, this is aimed at assisting Nigerians make simpler their activities, using relevant technology to create payment options that will drive value towards all stakeholders segments which is believed will give further momentum to the country’s drive towards an increasing flexible cashless economy.

Recall that The Central Bank of Nigeria (CBN) extended the cashless policy to Rivers, Kano, Anambra and Abia States as well as the Federal Capital Territory (FCT) on July 1, 2013.

The cashless policy, whose implementation began in Lagos in January, last year, is aimed at reducing the dominance of cash in the system. The policy specifies penal charges for individuals and corporate organisations that want to withdraw or lodge cash above prescribed limits.

Under the policy, the CBN pegged the daily cumulative cash withdrawal or deposit limit for individual accounts at N500,000 per day and N3 million per day for corporate accounts.

CBN Deputy Governor (Operations), Mr. Tunde Lemo, who is also in charge of the pilot phase of the cashless economy while handing over the PTSP Licence Certificate said that this is truly a welcome development to Globasure Technologies Limited, as it is said “Whom much is given. much is also expected of him”, he added.

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