Top Commercial Bank Blocks Transfers To OPay, Moniepoint, Palmpay, Others Over KYC Concerns
EKO HOT BLOG reports that Fidelity Bank, a major commercial bank in Nigeria, has recently imposed limits on financial transfers to neobanks like as OPay, Moniepoint, and Palmpay. This decision is in reaction to worries about neobanks’ poor KYC (Know Your Customer) practices, which have resulted in a rise in fraudulent activity, according to TechCabal. … Read more