Nigerian POS agents set for showdown with Verve and Interswitch
On Techpoint Digest, we discuss Nigerian POS agents facing a showdown with Verve and Interswitch, Orange Liberia fined $21,880 for unauthorised SIM swap, and SA to close crypto loophole following court ruling.
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Victoria from Techpoint here,
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Nigerian POS agents set for showdown with Verve and Interswitch
Orange Liberia hit with $21,880 fine over unauthorised SIM swap
SA to close crypto loophole after court ruling
Nigerian POS agents set for showdown with Verve and Interswitch
POS agents in Nigeria need to evolve
Nigeria’s POS operators are drawing a line in the sand, and this time their fight isn’t with the Central Bank of Nigeria (CBN) but with Verve International and Interswitch. The Association of Point of Sale Service Providers has threatened to stop accepting and processing Verve card transactions nationwide unless regulators step in over what it calls anti-competitive and unlawful exclusivity practices. In a formal petition to both the CBN and the Federal Competition and Consumer Protection Commission (FCCPC), the group warned that a shutdown of Verve transactions could be its next move if the issue remains unresolved.
The dispute centres on allegations that Verve and its parent company, Interswitch, are using their dominant position in Nigeria’s payments ecosystem to lock out competitors and force exclusive arrangements on operators. The association argues that such practices violate existing CBN regulations as well as the FCCPC Act. Given Verve’s massive footprint across Nigeria’s agent banking network, any disruption to its transactions would be felt almost immediately by millions of cardholders who rely on POS agents for cash withdrawals and everyday payments.
This comes after, on May 29, 2026, the CBN extended the deadline for enforcing its mandatory POS terminal geo-fencing framework to August 1, giving payment service providers more time to comply with the new requirements. In August 2025, the regulator directed all payment operators to geo-tag their POS terminals within 60 days as part of efforts to combat fraud and strengthen oversight of digital payments under ISO 20022 standards. The CBN has also eased compliance by increasing the allowable ...
