Paysob tech for sale


As most of you already know, we built Paysob to accept payment for our startup, Netsob. But the new version of Netsob we’re launching next year is going to be free so we no longer have much use for Paysob. And since we’re very reluctant to run a fintech, we’ve decided to put Paysob tech up for sale: peradventure someone else have use for it.

For those who don’t know, Paysob is a payment service which allows individuals and businesses accept payments by recharge cards. You can read more about it here when we first announced it on Radar. It can currently accept payments via recharge card and airtime transfer on all major mobile networks in Nigeria (i.e. MTN NG, GLO NG, 9Mobile NG and Airtel NG). Nevertheless, the tech is actually network independent so with a little tweak (less than 10 minutes), you can make it accept payment on any other mobile network provided you have physical presence in the country.

Please note that Paysob is not a startup. It’s purely a tech (i.e. just source code and hardware).

If you are interested, send me an email at or PM me here.


sorry to say it is good you are no more working on paysob because according to CBN guideline on MOBILE PAYMENTS SERVICES IN NIGERIA

it says that it is illegal to use airtime value loaded by subscribers for purposes of payments or to transfer monetary value.


This is sad considering the founders spent thousands of men hours building this.
Fuck the regulators :middle_finger:


before you build any payment system in nigeria,you need to know the law.

you might say fuck the regulators but it might come back to bite you.


Fuck the law that makes innovating hard.


ok sir)))))


@jamesbond thanks for the info but I’m already aware of that law. The law was specifically made for MNOs (i.e. telcos) in regulating mobile money transactions. However, Paysob was never intended for mobile money.

Let me give an instance. Nothing stops you or a business from trading goods/services for airtime (like a barter system). And later converting the airtime back to cash by selling it to someone who needs it. This has nothing to do with Telcos and it has nothing to do with mobile money. And that’s what Paysob does.

I doubt it falls within the confine of that law. But then again, I never really studied it in details as we never intended to run Paysob as a Fintech.


All the best in new adventure…


i am not the regulator,you can argue your point with the regulators.


Okay, thanks.


Please do your research well before posting unconfirmed reports online. this could discourage interested parties even though it’s totally false. accepting recharge card in exchange for value for your own products is totally legal. i know companies doing so legally with no issues. It is better not to say anything at all when you are not sure rather than spoiling other people’s business with your false interpretation.


@Light really nice tech. i know two startups that really needed something like this to accept payment but couldn’t because going out thier way to build this would mean taking thier eyes off thier core business. i’ll bring both of their attention to this post.


some times lets be logical and factual than emotional.

The CBN regulation is a old news.

before posting your thought on radar,have you read the cbn guideline on mobile money.i guess NO

i will like to ask is recharge card a legal tender in Nigeria?

I guess it is you who need to do research on it.

Do you think using recharge card for payment of good and services is innovative,it is a common idea.

all telecom would have been doing it,if it was legal.


I know about mobile money guideline and what the op put up for sale is not a mobile money service. it’s simply a way to accept payment for you own product. Because you read something online doesn’t mean you know how to interprete it to real life situation. The companies accepting this form of payment still have to go on to sell the recharge card. so literarily it’s just like exchaging the recharge cards for other values and now becoming the seller of the recharge card. It would have been a problem if the telcos are paying me cash directly for each recharge card payment made for my service and i think this is where you are missing it

Except you can give me a single case where a company as been fined or prosecuted for accepting recharge card for their own services i wont bother replying any more of your arguments.


it is illegal to use airtime value loaded by subscribers for purposes of payments or to transfer monetary value.

which part you dont understand?

sometimes,it is good to act and talk intelligent but i am not the regulator and you are fighting a loss cause with me.

instead of argueing a smart business man, will twerk his/her idea to fit the regulations.

take all your necessary arguments and points and write it in a letter headed paper to the authority.


@jamesbond, have you ever heard of trade by barter? I think you’re missing their business model or is it that you can’t picture airtime as a ‘good’ that can be exchanged for another good or service?

The business model is a two-step trade by barter based on the ‘liquidity’ of a recharge card or airtime and not a recharge card being a legal tender. The key difference is that merchants still have to resell the airtime to get the value for their goods or services. If they can’t sell the airtime, they loose!. This is not the case in mobile money operations that use airtime. The object clause of that law is under the section on MNO. But in this model, the Telcos are not involved in the transfer of monetary value.

One thing you should learn in business is how to use the law to your advantage, if not you might not go far. The more you grow, the more laws you encounter. But there are always loopholes, always! And a good lawyer that knows how to go about this (especially with CAMA and CITA) will always be invaluable.

Like @Olaar has pointed out, a good number of business use this model and I’m sure you know that already.


i am not even a lawyer but this is common sense

the law forbids transferring monetary value to recharge cards or using it as a purpose of payments.

its simple you cant use recharge cards for trade and barter of goods and services or resell the airtime to get the value for goods or services.once you have exchange the card for a particular goods or service,you have given the card monetary value.

all these meant in simple english is do not use recharge cards for payment,and exchange of goods and services.

The laws/guidelines covers any payment system in nigeria


Okay, thank you for educating us.


An average man should understand what you mean by now


The CBN forbids it, so why arguing? Your script or code is one that enables processing a fully loaded GSM recharge card value for the purpose of settling a payment electronically… ITS illegal as defined by the regulator… I guess that why you are selling it though cos its meaningless to you at the moment… If it was good perhaps you would have had a staggering amount tagged to it… My brother, the handwriting on the wall… contact CBN for clearance if in doubt… @jamesbond is not a consultant or a lawyer but has giving us a veritable link…a word for the wise