Fortifying Trust: Payaza’s Licenses and Cutting-Edge Fraud Prevention Framework.

In an era where digital transactions underpin economic activity, fintech platforms face evolving fraud risks that can compromise user trust and operational integrity. Payaza has proactively secured multiple regulatory licenses—most notably from the Central Bank of Nigeria (CBN) and the Bank of Ghana—and holds an investment-grade rating from GCR to bolster its credibility and compliance stature. Through robust Anti-Money Laundering (AML), Know-Your-Customer (KYC), and PCI-DSS frameworks, Payaza not only meets but often exceeds industry standards to detect, prevent, and respond to fraud, ensuring merchants and consumers alike can transact with confidence.

CBN Payment Solution Service Provider (PSP) License

Payaza Africa Limited is fully licensed by the Central Bank of Nigeria as a Payment Solution Service Provider, authorizing it to offer payment gateway services across online and offline channels. This license mandates stringent compliance with Nigeria’s AML/CFT regulations and positions Payaza among the country’s leading, regulated fintech entities.

Bank of Ghana PSP Enhanced License

In February 2025, Payaza secured its PSP Enhanced license from the Bank of Ghana, becoming one of only a handful of international fintechs authorized to operate end-to-end payment services in Ghana. Holding Digital Address GL-116-0375, Payaza’s Ghana license underscores its commitment to regional expansion under the highest supervisory standards.

GCR Investment-Grade Rating

Recognized by Global Credit Rating (GCR) as investment-grade, Payaza holds an A3 rating for short-term obligations and BBB- for long-term commitments as of January 2025. This endorsement of financial health and governance further solidifies Payaza’s capacity to underwrite risk and invest in advanced fraud-prevention technologies.

Fraud Risks in Digital Payments

Common Fraud Vectors

1. Account Takeover (ATO): Unauthorized access via credential stuffing or phishing, leading to fraudulent transactions.
2. Identity Fraud: Synthetic identities or stolen data are used to open unauthorized accounts.
3. Transaction Fraud: Use of stolen cards or unauthorized digital wallets to process payments.
4. Money Laundering: Layering illicit funds through legitimate payment channels to obscure origins.

Impact on Businesses

• Up to $32 billion in annual losses for African startups due to payment fraud, according to industry reports.
• Reputational damage and regulatory fines can exceed 10% of revenue if compliance lapses.

Payaza’s Fraud-Prevention Framework

Robust KYC and AML Controls

• Enhanced Due Diligence (EDD): For high-risk customers, Payaza performs deeper identity verification, source-of-fund checks, and ongoing monitoring, as mandated under CBN and Ghanaian regulations.
• Transaction Monitoring: Real-time analytics flag unusual patterns, such as rapid high-value disbursements or cross-border anomalies, for automated review.

PCI-DSS Compliance

• Payaza’s infrastructure adheres to PCI DSS v3.2.1 standards, encrypting card data at rest and in transit to thwart interception and tampering.

AI-Driven Fraud Detection

• Machine-learning models analyze millions of transaction attributes—device fingerprinting, geolocation, and behavioral biometrics—to identify and block suspected fraud attempts with over 95% accuracy.

Secure API Integrations

• Payaza’s APIs employ OAuth 2.0 for tokenized authentication, ensuring third-party integrations cannot expose sensitive payment credentials.

Best Practices for Merchants

1. Enable Two-Factor Authentication (2FA): Require customers to verify critical actions.
2. Regular Reconciliation: Automate settlement reports to surface discrepancies within 24 hours.
3. Limit Single-Transaction Amounts: Cap high-risk payouts or require manual approval.
4. Employee Training: Educate staff on social-engineering tactics and secure credential handling.

By combining a strong regulatory footing with cutting-edge fraud defenses, Payaza equips MSMEs and enterprises across Africa to transact securely and scale confidently. Stay ahead of fraud by leveraging:

• Payaza Payouts for bulk and instant disbursements with audit-ready trail.
• Payment Links & QR Codes to minimize manual entry errors.
• Sub-Accounts API for granular fund segregation and transparent settlement.

Ready to safeguard your transactions? Explore how Payaza’s licensed, PCI-DSS–compliant platform can fortify your payment flows and empower growth across borders. Visit payaza.africa to learn more.