Xpress Payment Solutions Ltd
“Can a CBN-licensed Nigerian payments infrastructure company own the shared switching, POS, and consumer wallet layers across West Africa's cash-to-digital transition?”
Founded2016
HQLagos, Nigeria
Latest roundAcquired by Network Merchants (December 2022)
IndustryInfrastructure / Payments
The story
Xpress Payment Solutions was founded in 2016 as a CBN-licensed payments infrastructure company (switching, PSSP, PTSP, TPP) focused on Nigeria's electronic payments market. It operates the consumer PayXpress wallet and merchant XpressPay gateway on top of its own switch. The company was acquired by Network Merchants in December 2022, and continues to operate as a shared payments infrastructure provider in West Africa.
Last 12 months
Product timeline
2016
Incorporated in Nigeria as a private limited company specializing in electronic payments, collections, bill payment and funds disbursement.· founding
2022
Acquired by Network Merchants (terms undisclosed).· acquisition
2026
Celebrated 10th anniversary; continued expansion of digital payments infrastructure in Nigeria.· milestone
Regulated entities
4
regulatory licences held by Xpress Payment Solutions Ltd
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
3 layers disclosed in Xpress Payment Solutions Ltd’s embedded-finance stack
Payments / PSP
XpressPay (self-operated)PayXpress (self-operated)
Banking / BaaS
in the full report
KYC
in the full report
Accounting gap: significant
2 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.