Nigeria has embraced a game-changing feature in its financial terrain in 9PSB, the very first digital payment service bank, which was launched in the month of November in the year of 2020.
9PSB aims to digitize how clients access and utilize banking services as it offers everything a traditional bank has to offer in a more computerized manner.
9PSB lacks some attributes when compared to traditional banks but one of the aspects where 9PSB excels in is in its ability to over a confirmed degree of commitment to enabling accessibility and promoting inclusivity.
This bank takes pride in its self-sufficient digital-only bank and runs its own privately-owned agent banking network. The flagship feature of 9PSB is that it offers easy access to online and offline digital banking solutions to all Nigerians irrespective of geography.
9PSB differs from MoMo PSB and Smartcash PSB in that it still embraces a network-agnostic model. Essentially, this indicates that regardless of the telecom network used, every user will have the ability to establish an account with 9PSB using their phone number as their new account number.
This is a unique development that easily removes many of the barriers associated with time-consuming account setup processes for as many people as possible regardless of their network type.
In addition to this, economic empowerment is more of an objective aimed at addressing social issues like poverty, social cohesion, and the inequalities in wealth distribution. Consequently, the bank is taking an active part in developing effective strategic alliances with major actors in several industries to provide simple, universal, and cost-effective financial aids.
Your Expectations from 9 payment service bank
9PSB operates in the market as a mobile payment service provider allowing its customers to purchase airtime/data bundles, cash deposit and withdrawal, bill payments and so on, which is the core focus of the conventional banks.
Furthermore, the company adopts a robust and efficient agent banking model to reach the last mile. The bank employs local representatives and business partners who operate as banking agents to establish local banking control points in every village and urban community across Nigeria ensuring that people have access to financial services wherever they are based.
What I like about this Bank
9psb is undeniably one of the biggest brand when is comes to payment services. Brands like chipper cash, TQ VTU, and many others uses it as a payment gateway to receive payments from their customers.
If I’m asked, ” on a scale of 1-10 where would 9psb be?” My response would likely be 7. The bank Network is stable and reliable with little to no fluctuations.
How to Become a 9PSB Agent
9PSB agents have the potential of earning income while carrying out activities that would help most people get the financial services they need. To qualify as an agent, one needs to be tried and tested:
- The ability to read and write is required.
- NIN/BVN Number
- An acceptable method of identification. (An ID card, a voter card, an international passport, and a driver’s license are all required).
- Passport photo
- A bank account and a minimum of N50,000 in start-up funds are required.
There are numerous additional ways to make money on the platform. You may find out more on this page.
How to Register for a 9PSB Account
All that is needed to create an account with 9PSB is to dial *990# and take a walk through the seamless process of creating an account. Furthermore, there are two types of accounts available which are 9ra Instant and 9ra Save.
To get access to savings option of 9ra save account, one will be required to first download the mobile application and then register into their saving and earning program.
Who Owns 9PSB
9PSB gets its name from the 9mobile telecommunications firm, it more like they both have something together. However, I’m not so sure if 9mobile owns it or not. Because from other sources, I’ve gone through, I can see that 9psb runs its business independently.
Final Thoughts
In October 2012, CBN launched the National Financial Inclusion Strategy to try to reduce the percentage of the adult population who are excluded from financial services from over 45% to 20.0%.
Establishment of Payment Service Banks was one of the key strategies aimed at removing obstacles to wider access to financial services. 9PSB has been an integral to the CBN builders in this quest through introducing affordable, simple and secure financial services for large segments of the Nigeria population.
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