Excited about using Kuda Business API? That's great! Before we get started, let's go through who can use our API and what you need to qualify. We want to make sure you have everything in order before you apply.
Who can use Kuda Business API?
Our API is designed for registered businesses in Nigeria. Here's what you need:
A registered business based in Nigeria
Active status on the CAC search report
Correct regulatory permissions for your products and services
Specific licensing, such as a Payment Service Provider (PSP) or Mobile Money Operator (MMO) license, for handling certain payment services.
For example, if you want to issue wallets to your customers, you need to be licensed as a Mobile Money Operator in Nigeria. Similarly, if you plan to act as a payment intermediary, a Payment Service Provider (PSP) license is required to comply with regulatory standards.
Who can't use Kuda Business API right now?
We're working on expanding our services, but for now, we can't support:
Charities or non-profit organisations
Clubs or other non-registered organisations
Community interest companies (CIC)
Partnerships
Trusts or funds
We also can't work with dormant companies, shell companies, or offshore entities.
Industries we can't support
To stay compliant with laws and ethical standards, we can't work with businesses in certain industries. These include: Regulatory compliance, particularly with Central Bank of Nigeria (CBN) rules, also restricts activities in these industries, ensuring ethical use of financial technologies.
Adult services
Controlled drugs (including CBD products)
Cryptocurrency
Dark web activities
Unregistered gambling
Illegal drugs or goods
Mining and extractive industries
Political NGOs
Weapons manufacturing and selling
What you need to apply
If your business fits the bill, here's what you need to do to apply for Kuda Business API:
Complete our Due Diligence Form
Provide KYC (Know Your Customer) information
Share details of your control framework
Ensure your website has proper disclosures as per our guidelines
Be ready to review and adjust your policies and marketing materials if needed
Technical Prerequisites
Your business should have:
A fully functional website or mobile application
Valid SSL certificates for all endpoints
Development environment for testing
Capability to implement required security measures (OAuth 2.0, encryption, etc.)
Technical team capable of maintaining 99.9% uptime for critical services
Regulatory Licensing Requirements
To access specific APIs, ensure compliance with licensing rules governed by the Central Bank of Nigeria (CBN):
Bill Payments API, Make Payments API, Account Management API: Generally accessible without special licensing.
Accept Payments API: Requires PSP or MMO licenses for third-party payment processing.
Instant Settlement API: Licensing and compliance documentation required for settlement services.
The approval process
Once you've submitted your application:
Our Compliance team will review your information (this usually takes about a week)
We might ask for more information or suggest changes to your framework
We'll make a final decision after reviewing everything
If approved, you'll get access to Kuda Business API and can start integrating our banking services into your business operations!
Remember, we're here to help you through this process. If you have any questions about eligibility or the application process, don't hesitate to reach out to our support team.
Ready to take the next step? Let's get your business powered up with Kuda Business API!