Nigeria’s digital payment service bank, 9 Payment Service Bank (9PSB), has entered a strategic partnership with XCHANGEBOX, a licensed super-agent service provider. Through their flagship product, PAYREP, the collaboration aims to deliver agent banking solutions to rural areas and small to medium-sized enterprises (SMEs).
Key Points:
- Partnership Objective:
- The partnership between 9PSB and XCHANGEBOX seeks to co-create innovative products that enhance customer payment experiences in Nigeria. The primary goals are to deepen financial inclusion and bridge the gap between the banked and the unbanked/underbanked populations.
- Utilizing PAYREP Platform:
- The PAYREP Agency Platform will serve as the foundation for delivering tailored services to agents, SMEs, merchants, and customers. This platform will play a crucial role in providing convenient and accessible financial services.
- CEO Statements:
- Branka Mracajac, CEO of 9 Payment Service Bank, emphasized the institution’s dedication to financial inclusion. She highlighted that this strategic partnership would not only advance payment solutions but also expand the range of financially inclusive products and services available to SMEs, merchants, and customers.
- The CEO of XCHANGEBOX, represented by Abiola Jimoh, Co-founder/CCO, expressed the company’s commitment to driving payment solutions, particularly in Northern Nigeria. He underscored the potential of the partnership to enable financial inclusion through an extensive agent network, benefiting a wide range of customers, SMEs, and merchants.
Conclusion: The collaboration between 9PSB and XCHANGEBOX signifies a significant step toward enhancing financial inclusion and accessibility to banking services in Nigeria. By leveraging the PAYREP platform, both entities aim to create innovative products that cater to the diverse needs of customers, SMEs, and merchants. This partnership holds the potential to make meaningful strides in advancing financial empowerment across the nation.
