Nigeria’s quest to deepen financial inclusion is getting more traction by the day as 9Mobile’s Payment System Bank(9PSB) officially launched its services, aimed at bring financial services to the last mile.
It would be recalled that the Central Bank of Nigeria (CBN), in a bid achieved its financial inclusion strategy and ensure that adult Nigerians have easy access to a broad range of formal financial services that meet their needs at affordable costs, granted final licenses to 3 Payment Service Banks (PSBs) to start operation.
9PSB one of the three licensees that officially launched its services on Monday in Lagos.
Branka Mracajac, CEO, 9PSB, speaking at the event, said that their goal is to deploy financial services to rural and unbanked customer in Nigeria.
She noted that meeting the financial needs of the last mile will address the pain point between the banked and unbanked.
Mracajac explained that their services will strengthen Nigeria’s financial inclusion drive leveraging mobile and digital channels, noting that they will deploy right network of agents in the rural area with the sole aim of starting financial education of consumers who do not have opportunity to know about financial services.
She added that their objective is to facilitate high volume low-value transactions in remittance services, micro-savings and withdrawal services in a secured technology-driven environment to further deepen financial inclusion.
Olufemi Balogun, Product and Service Manager, 9PSB, said that 9PSB’s goal is to understand the pain point of its Nigerian consumers and deliver products that would address these challenges.
He stated that value delivery would be the hallmark of its services to its consumers.
According to him, “our aimed is to offer value and when you offer value you are giving value to the customer, we have mapped out value propositions our customers will enjoy. We have instant cash back on airtime for our customer.
“We also have zero convenience fees for our customers to enjoy; also customers would earn commissions on transactions like paying bills and so on”.