Accelerex obtains PSP licence from Bank of Ghana to offer Ghanaians more options in digital payment


Charles Abuede

After gaining footprints in Nigeria and Kenya, Accelerex, a leading pan-African fintech company has hit new milestones in the Ghanaian financial services industry after it received an enhanced Payment Service Provider licence from the Bank of Ghana (BoG) to offer citizens more options in digital payment under the Payment Systems and Services Act, 2019 (Act 987).

Accelerex in a statement on Tuesday said the license will allow it to become the only fintech organization currently within the enhanced PSP category that provides physical e-payment devices, merchant acquiring, and agency banking solutions in Ghana. It also stated that the move was followed on the heels of the ISO 27001:2013 and PCI-DSS certifications it recently obtained as this will enable it open the Ghanaian market to more transaction possibilities and electronic payment across several channels.

Sebastian Yalley, Chief Executive Officer and Managing Director of Accelerex Ghana, while speaking on the milestone achievement by Accelerex Ghana noted that: “through our continuous product innovation and impeccable attention to customer needs, the company has gradually emerged as the financial technology company of choice for Ghanaian businesses.”

“At Accelerex, standardization and compliance remain the bedrock of our operations across all subsidiaries in Africa. We believe that having this licence from the Bank of Ghana is a demonstration of our commitment to the Ghanaian market and serves as the foundation for rolling out simple, secure, and convenient e-payment and digital transaction solutions for all customer segments. We intend to use this as leverage to deepen our existing relationships with our bank clients. In that same spirit of collaboration, we are open to working with other fintech companies to deliver superior value to customers,” he revealed.

Elsewhere, Accelerex Ghana has placed eyes on the retail segment of the market with its new revolutionary products – RexPay and RexRetail, set to launch in the second quarter of 2021 which the company revealed was buoyed by the major milestone achieved which allows the digital payment company to offer electronic payment platforms and applications, agency banking, merchant payment collections, terminal aggregator management systems, and payment terminal management. It also said the products will aid the deepening of its footprints in Ghana and cement its position as a leader in the e-payment space.

Meanwhile, Accelerex Holdings Group, the parent company to Accelerex Ghana, has in recent times secured a $20 million in investment funding from African Capital Alliance in a bid to drive new product development and expand to South Africa, Cote d’Ivoire and Tanzania.