9PSB to Deliver Banking Solutions to Rural Enterprises 

9 Payment Service Bank (9PSB), a digital payment service bank focused on financial inclusion, is set to deliver agent banking solutions to rural, small, and medium-sized enterprises.

This is even as 9PSB has entered into a strategic partnership with XCHANGEBOX, a leading licensed Super-Agent service provider. The collaboration is aimed at facilitating the co-creation of products that will help to revolutionize customers’ payment experiences in Nigeria, with the goal to further deepen financial inclusion and bridge the gap between the banked and the unbanked/underbanked

The chief executive officer of 9 Payment Service Bank, Branka Mracajac, at the signing ceremony of the partnership in Lagos, reiterated the bank’s commitment to financial inclusion, while assuring that the partnership, will further deepen payment solutions.

With the partnership, 9PSB and XCHANGEBOX can now offer more financially inclusive products and services by leveraging on its agent networks to reach small and medium-scale enterprises (SMEs), merchants and customers.

‘’For us at 9PSB, financial Inclusion is a key social objective and we have always partner with various key stakeholders in keeping our mandate by providing easy access to financial services to the unbanked and underbanked in rural and semi-urban areas. With this very particular partnership with XCHANGEBOX, we aim to provide exceptional products that will improve and deepen access to financial services across every nook and cranny in the country. This we hope, will excite all Nigerians and SME owners, and address their needs.” Mracajac added.

Meanwhile, the chief executive officer of XCHANGEBOX, Mohammed Ismail, who was represented at the MoU signing ceremony by the company’s co-founder/CCO, Abiola Jimoh, said the company undertook the partnership to drive payment solutions especially in Northern Nigeria where most of its operations are based.

He noted that the partnership would enable financial inclusion through its wide range of agent networks to customers, SMEs, and merchants by jointly creating specific products that will meet the growing needs of customers using its flagship platform, PAYREP.

Ismail, however, expressed optimism that the initiative would go a long way to address some of the specific challenges faced by agents and customers.