“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?”
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.
Xpress Payment Solutions Ltd discloses Xpress Wallet (self-operated) as its banking provider, according to the Embedded Finance Index 2026.
Xpress Payment Solutions Ltd does not disclose a bank charter of its own; its banking services are provided through Xpress Wallet (self-operated).
Xpress Payment Solutions Ltd processes payments through XpressPay (self-operated) and PayXpress (self-operated).
Xpress Payment Solutions Ltd uses NIBSS BVN (Nigeria) for KYC and identity verification.
The Embedded Finance Index 2026 maps 3 layers in Xpress Payment Solutions Ltd's stack: Payments / PSP (XpressPay (self-operated) and PayXpress (self-operated)); Banking / BaaS (Xpress Wallet (self-operated)); KYC (NIBSS BVN (Nigeria)).
Xpress Payment Solutions Ltd is founded in 2016 and headquartered in Lagos, Nigeria.
Get a read on where your own stack stands against Xpress Payment Solutions Ltd and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.