Airtel Africa has today launched SmartCash Payment Service Bank to provide safe and reliable financial services across Nigeria.
This is just after the company announced in May that SMARTCASH Payment Service Bank limited had secured the Central Bank of Nigeria’s approval to commence Payment Service Bank (PSB) operations.
The new service will now accept deposits from individuals and small businesses. Smartcash will also enable payment and remittance services within Nigeria and issue debit and prepaid cards among other banking services while still enabling person-to-person payment and transfers from across the world.
Airtel also plans to extend the service to all parts of Nigeria, reaching the 36.8 percent unbanked adult population in Nigeria, including the furthest and most remote, to accelerate financial inclusion for all Nigerians.
What they said:
Airtel Africa’s Group Chief Executive Officer, Segun Ogunsanya said, “The launch of SmartCash Payment Service Bank gives us fresh impetus at Airtel Africa, to continue growing our footprint in the continent and delivering innovative solutions. In the bank, we have the best of both worlds – a hybrid of commercial bank and mobile financial services – offering last-mile connection to the financially excluded. Through it, we want to contribute towards driving financial inclusion in Nigeria, to empower Nigerians while transforming the payment landscape in Nigeria and the rest of Africa.’’
Chief Executive Officer & Managing Director of SmartCash Payment Service Bank, Muyiwa Ebitanmi, said, “Through SmartCash Payment Services Bank, we aim to bridge the financial divide by providing rural and urban Nigerians access to innovative, highly secured and reliable banking services that are powered by technology and are relevant to their needs”.