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

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