Flutterwave, Nigeria’s fintech giant, has teamed up with 9 Payment Service (9PSB), a Nigerian digital bank, to create a more seamless and financial environment that will allow banking agents, merchants, and customers to conduct transactions conveniently.
In a joint release from the two companies, this partnership seeks not only to simplify payment transactions for merchants, customers and banking agents, they also plan to aggregate them. They also intend to use this relationship to aid in the transition of economic growth through empowering fintech entrepreneurs, the SME sector, and other businesses, as well as contributing to the formalization of informal sectors.
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Branka Mracajac, 9PSB’s Chief Executive Officer, said during the ceremony in Lagos that the bank is committed to providing financial products in remote areas of Nigeria, such as the unbanked and unserved, and that they will drive financial inclusion in line with the CBN’s strategy, regulation, and objectives. She went on to say that in less than a year of operation, they have achieved key milestones such as having an agent network presence in all 50 states and that the partnership with Flutterwave will provide a single entry point for customers, agents, and partners; as well as allow the bank to take advantage of additional products and services that Flutterwave will bring on board.
“Our mission is to drive economic growth through empowerment of the SME sector and entrepreneurs playing in the Fintech space and contribute to the transformation of the informal sector to the formal sector, leverage strategic partnerships and create interconnectivity between stakeholders in the financial system. Since we launched last year, we have been working behind the scene to deliver on some of the promises we made during the launch and we have offered our products, seamless execution of processes and excellent customer service”.
Flutterwave’s Founder and CEO, Olugbenga Agboola, commented on the company’s decision to choose 9PSB as its settlement bank, stating both organizations share the same vision and are committed to the same aim of offering and powering seamless financial services.
“At Flutterwave, we believe in an ecosystem of shared value that transforms and impacts society. We are showcasing the power of strategic partnership and cross-sectoral collaboration in advancing Nigeria’s financial ecosystem”.
We look forward to seeing more from the partnership and wish them Goodluck.