9PSB Partners XCHANGEBOX to Provide Payment Solutions

Emma Okonji

9 Payment Service Bank (9PSB), Nigeria’s digital payment service bank focused on financial inclusion, has entered into a strategic partnership with XCHANGEBOX, a leading licensed Super-Agent service provider, to deliver agent banking solutions to rural, small, and medium-sized enterprises via its flagship product, PAYREP.

The signing ceremony of the partnership took place at 9PSB head office in Victoria Island, Lagos, recently.

The Chief Executive Officer of 9 Payment Service Bank, Branka Mracajac, during the signing of the Memorandum of Understanding (MoU) between the two companies, reiterated the bank’s commitment to financial inclusion, adding that the strategic partnership will further deepen payment solutions.

“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 said.

The Chief Executive Officer of XCHANGEBOX who was represented at the MoU signing ceremony by the 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.

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