I know anything payment here comes with a sigh and rightly so too as there are several payment threads on this forum over-flogging similar issues. My aim here isn’t to re-hash the same issues, but to understand the current payments landscape in the country, who does what exactly and if there is still space for any kind of improvement or innovation.
So I was reading the Digital Financial Services in Nigeria(State of Market Report 2017) and came across some terminologies I don’t quite understand and am hoping experts here can help clear the terms.
- Payment Switching/Processing Companies( there are 8, according to the report)
- Payment Terminal Service Providers[PTSP](18 Licenced, 5 AIP)
- Payment Terminal Service Aggregators[PTSA] (16)
- Payment Solution Service Providers[PSSP](6 Licensed, 6 AIP)
Can someone coherently give the definitions and examples of current Nigerian companies that offers those services?