NowNow platforms support transactions that help your business grow. Being a NowNow merchant means you get to accept payments instantly. Plus, your customers can easily pay you however they want using transfers, cards, QR stickers, or contactless methods. However, NowNow does not support crypto transactions.

As a result, understanding the reasons behind this decision is crucial for ensuring the safety and compliance of your financial operations while using your NowNow account.

In this guide, we’ll detail;

  • The measures we take to keep your money safe
  • The reasons we do not accept cryptocurrencies

How We Keep Your Money Safe 

As your payment provider, we do everything to keep your account safe and secure. Sometimes, while trying so hard to protect you and your hard-earned money, we might seem like an annoyance. From constantly sending you updates on how to protect your money from scammers to upgrading your KYC issues or other suspicious activities in your account. But it’s okay. We would rather provide the safest payment experiences than tell you stories that touch.

Why We Say No to Cryptocurrency

1. Your Own Financial Safety 

Cryptocurrencies and other virtual currencies are growing more popular by the day. Despite their popularity, they pose several security risks like

Volatility: The unpredictable fluctuations in value can result in huge financial losses, making them a risky option for day-to-day business transactions.

Fraud and Scams: The anonymity of cryptocurrency transactions makes them attractive to fraudsters and scammers. This makes it difficult for us to track and recover funds in the event of fraudulent activity.

2. Compliance with Regulations

Aside your financial safety, like all financial institutions, we’re governed by laws and regulations. This is why NowNow does not support crypto transactions. In compliance with the regulation of the Central Bank of Nigeria, trading or engaging in transactions involving cryptocurrency or any other virtual currencies is not permitted on the NowNow platform.

We take this matter seriously and want you to take it seriously. If your account activities raise concerns related to anti-money laundering or fraud, we might temporarily block it and take steps to investigate further. If your account is in violation, we will promptly report your account details to the appropriate authorities. It’s not personal. Rather it’s just our way of staying compliant and safeguarding your finances.

Bottom Line

The fact is—protecting your financial interests is our number one priority. We do it to keep your hard-earned money safe. Whether it’s preventing fraudulent transactions or ensuring compliance with regulatory requirements, every action we take is in your best interest. By not supporting cryptocurrency transactions, NowNow helps protect you from these risks, ensuring that your financial transactions remain secure and reliable.

If you have any questions about security, please email or message us using the in-app chat.