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Be Your Own Bank

Accept payments, access collected funds on the same day and facilitate transactions for your customers using state-of-the-art digital services, with zero setup fees.

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Empower your Business with Bank-Grade Capabilities

Our OFI Settlement Services allow Other Financial Institutions (OFIs), Fintechs and corporates to accept payments via Point-of-Sale (POS), Card and NIBSS Instant Payment (NIP) and receive value for payments for goods/services on the same day. You can also facilitate transactions, fund transfers, debit card payments, utility payments, etc. for your own customers like a full-fledged commercial bank by integrating with Sterling’s robust digital payment infrastructure, at no setup cost, while earning a fee on every transaction
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OFI Settlement Services at Sterling

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POS Settlement

Fintech’s and OFI’s can leverage our POS Settlement service to facilitate transactions, fund transfers, debit card payments, and other payment-related activities to their own customers.

This service allows Sterling to serve as the settlement bank for your agency banking transactions.

This service is designed to let you initiate payments to beneficiaries in any bank to facilitate seamless card transactions for your customers. The card settlement service consists of these sub-products:

  1. Debit Card Settlement with Interswitch:Settlement of all Interswitch transactions.
  2. Co-Branded Cards Settlement:Production of customized cards for partner institutions and settlement of related card transactions.
  3. TWIG secure POS terminal: This can be used to generate instant PINs to card holders, eliminating the issuance of paper PIN mailers.

With Sterling as your settlement bank, your customers can initiate/receive interbank transfers across all banks via NIBSS Instant Payment or Interswitch platform.

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Who can use OFI Settlement Services?

Institutions in need of expert services in the management of funds and revenue generated from POS, Card and NIP transactions:

  • Fintechs
  • Microfinance banks
  • Finance houses
  • Mortgage bank
  • Credit unions
  • Insurance companies
  • Pension funds
  • Technology companies
  • Corporate entities
  • NGOs
  • International organizations
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Benefits

Matching Digital Financial Services

Our OFI Settlement Services allow you to deliver payment services via ATM, POS and Web, that are at par with services offered by Sterling Bank. These include fund transfers, debit card payments, ATM cash withdrawals and payment of utility and phone bills.

Revenue Generation

Generate additional revenue by charging fees for the payment services you provide to customers using Sterling’s settlement services.

Free Integration

Enjoy free and easy integration of our settlement services with your Enterprise Resource Planning (ERP) system and extend state-of-the-art digital financial services to your customers.

Same-day Settlement

Experience same-day settlement of transactions and 24/7 access to your funds. You can also utilize our API to facilitate settlement of funds to your agents’ accounts in any bank.

Cost Effective

Leverage Sterling’s infrastructure to issue debit cards and manage your cashflow to avoid significant costs of building your own card issuance and cash management systems.

Enhanced Security

Access Interswitch card platforms, including Autopay, and enjoy the protection of Sterling’s systems to process payments securely and seamlessly

Customer Satisfaction

Our OFI Settlement Services allow you to extend electronic banking facilities to your customers, ensuring a consistent and high-quality customer experience for them.

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