Access Bank Nigeria

Access Bank Nigeria is a bank that serves businesses and offers merchant acquiring alongside corporate banking. Its materials list POS acquiring, acquirer BIN sponsorship, MPGS and Cybersource among the services available to merchants and payment companies.

Acquiring and sponsorship The POS offering is aimed at businesses that collect card payments in person. The bank also describes sponsorship of acquirer BINs, which is relevant for payment companies that need a bank to stand behind their card acceptance. MPGS and Cybersource are named as the gateway technologies available for online acceptance.

Settlement According to the POS page, a merchant needs an account with the bank. Payouts are made in batches on a T+1 basis, with Friday transactions and weekend activity settled on Monday. This is a useful point for cash-flow planning, since weekend sales reach the account only at the start of the next working week.

Other terms Fees, minimum balances, supported currencies and account types depend on the legal entity and market, and are not set out in the material provided. Companies comparing acquirers should request the current tariff for their specific business model before choosing a provider.