In a recent announcement, Pocket by Piggyvest (PocketApp) has disclosed that they have been granted an Approval in Principle (AIP) as a Mobile Money Operator (MMO) by the Central Bank of Nigeria (CBN) in the country.
We’re incredibly pleased that PocketApp has been granted an approval in principle as a Mobile Money Operator in Nigeria. We will now work closely with the Central Bank to meet all its conditions to receive the full operating license, enabling us to continue growing and expanding the scope of our social payments, social commerce and other digital financial products to reach millions of Nigerian micro-entrepreneurs.Odunayo Eweniyi, Co-Founder and COO, Piggytech Global Limited
For the last 18 months, we have been focused on building the core infrastructure that will enable secure social commerce and payments at scale. We believe that social commerce will thrive better in a more trusted environment. So we added escrow to our payment infrastructure, protecting buyers and sellers and many other features, ensuring a smooth shopping experience on the app.Patricia Adoga, COO, PocketApp