Nigeria FinTech Company: What You Should Know About Unified Payment (UP®)


UP® otherwise known as Unified Payment Services Limited is Nigeria’s premier Payments and Financial Technology company founded in 1997 by a consortium of leading Nigerian banks. UP® operates as a shared infrastructure for the banking community in Nigeria and Payments Service Provider within and outside Nigeria, with a vision to be the most preferred e-payment service provider in Africa.

At UP, we PRIDE ourselves in our mission statement of Professionalism, Respect, Innovation, Dependability, and Execution. Incorporated as SmartCard Nigeria Plc, our Company was later known as ValuCard Nigeria Plc prior to becoming UP or Unified Payments following the decommissioning of our domestic-only payment or card scheme and transformation to scheme-neutral and option-neutral PayFinTech company with ownership of different technologies.

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In a demonstration of their cross-enterprise alliances and capabilities, UP® is the first and only non-bank entity in Nigeria that is Principal Member or Licensed Acquirer of all of American Express, Mastercard, PayAttitude, UnionPay, and Visa.

unified payments apps

Services & Solutions

The major businesses are;

(i) Processing

(ii) Acquiring

(iii) Payment Terminal Service Provider (PTSP)

(iv) Switching

(v) Value-Added Services

(vi) FINTECH and bespoke Solutions

(vii) Agency Network

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Unified Payments History and Background

  • 1997: Incorporated as Smartcard Nigeria Plc.
  • 2000: Rolled out the first electronic purse card solution in Nigeria, the first by any Card Scheme in Nigeria.
  • 2000: Re-branded as ValuCard Nigeria Plc.
  • 2004: Became a Principal Member of Visa International (now Visa Inc.).
  • 2006: Was certified by Visa as being EMV-compliant and commenced Visa acquiring services same year.
  • 2008: Was certified as being Payment Card Industry-Data Security Standard (PCI-DSS) Compliant.
  • 2008: Decommissioned the ValuCard e-purse product.
  • 2008: Successfully transformed from being a card scheme to being a global Payment Card Industry service provider.
  • 2008: Launched the first global Internet-based money remittance solution in Africa – V-Money Transfer.
  • 2012: Licensed as a Payment Terminal Service Provider (PTSP) by the Central Bank of Nigeria.
  • 2012: Re-branded as Unified Payment Services Limited.
  • 2014: Launched PayAttitude Tag NFC solution.
  • 2017: Licensed as a Payment Solution Service Provider (PSSP) by the Central Bank of Nigeria.
  • 2018: First to enable Hourly Settlement Service to Nigerian merchants.
  • 2018: First Acquirer of American Express in Nigeria.
  • 2018: Licensed as an Agency Network provider.

unified payments interview

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To be the most preferred e-payment service provider in Africa.


To be Africa’s dominant and world-class e-payment service provider by leveraging on our people, processes and technology to enhance commerce and provide utmost value to stakeholders.

The FinTech operates with PRIDE, read below;


We deliver high-quality services that meet the needs of our customers in line with global best practices using the best skills.

R-Respect for the individual

We recognize and treat our stakeholders as individuals on the basis of fairness, equity and care.

I-Innovative and Customer-Centric

We recognize the customer as the main purpose of our existence; therefore we constantly strive to ensure we exceed their expectations at all times.

Meeting the needs of our customers inspires us to continuously innovate and update our processes, products and services in a most proactive manner.


We act with integrity. We create an atmosphere of trust and can be relied upon to deliver on our promises.

E-Execution through teamwork

We get things done working together.

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