Home » FinTech » 9PSB to Launch Operations in September 2020

9PSB to Launch Operations in September 2020


9PSB, owned by 9mobile, Nigeria’s second-largest indigenous mobile network operator [MNO] will launch its operations in September 2020, Fintech Africa has learnt.

Source at 9PSB who craved anonymity disclosed that 9PSB will leverage its 9mobile’s subscribers base and Keystone Bank’s payment technology infrastructure to roll out its savings and payments services.

In line with its objective of enhancing financial inclusion and the development of the payment system by increasing access to deposit products and payments services through a secured technology-driven environment, the Central Bank of Nigeria (CBN) in July 2019 issued approval in principle [AIP] to 9PSB, Hope PSB and Money Master PSB.

You may read: FirstBank Addresses FirstMonie Agents’ Cash Liquidity Challenges with N10 billion Soft Loans in Q2 2020

Hope is a subsidiary of Unified Payment (UP), Nigeria’s premier fintech firm owned 100% by a consortium of banks. Master Money PSB is a subsidiary of Glo Mobile, the largest indigenous mobile network operator.

9mobile has been active in the financial industry. It is a mobile PoS service provider. The telecom giant develops and operates a robust payment engine called 9pay.

9pay is a mobile payment solution that allows subscribers to pay for apps and digital services on the Google Play store. Its subscribers can also use their 9pay accounts to pay for an exciting array of services online such as lottery, collect change digitally and pay for web services.

9pay USSD gateway is one of the most robust in the industry. The infrastructures would enable 9PSB to drive its operation with less hassle.