Our approach
What we do.
Licensed partners
Live payments will be processed with Central Bank of Nigeria–licensed banks and payment processors.
Know your business (KYB)
Every merchant is verified before accepting live payments: business registration, identity and proof of address, reviewed by our team.
Fraud and AML monitoring
Risk rules run on every payment, with flagged activity reviewed by people and blocklisting for confirmed fraud.
Controls and oversight
Separation of duties for approvals, and an audit log of every administrative action that can't be edited.
Data protection
We handle personal data in line with the Nigeria Data Protection Act 2023. See our Privacy Policy.
Card security
Card payments will run through PCI DSS–certified partners; card details are never handled by merchants' servers.
Status
Where we are today.
- Sofapay is currently in test mode. No real money is processed.
- Licensing and partner agreements for live payments are in progress.
- We'll publish licence and certification details on this page as they're granted.