30 results
- 14 Mar 2024
Interswitch Merges with M-Kudi, Aims for Payment Service Bank License in Nigeria
Interswitch, backed by Visa, has revealed its merger plans with mobile money provider M-Kudi, signaling its intent to secure a Payment Service Bank (PSB) license from the Central Bank of Nigeria. The…
- 24 Feb 2025
Smartcash PSB Wins Outstanding Payment Service Bank at New Telegraph Awards
Smartcash Payment Service Bank (PSB), a subsidiary of Airtel Nigeria, has been recognised as the Outstanding Payment Service Bank of the Year 2024 (Fintech) at the New Telegraph Awards, reaffirming…
- 19 Sept 2019
CBN Issues AIP To 3 Payment Service Banks
The Central Bank of Nigeria (CBN) has issued Approvals-in-Principle (AIP) to three Payment Service Banks (PSBs). The three institutions issued approvals in principle to operate as Payment Service…
- 30 Sept 2024
SmartCash Named MSME Payment Service Bank of the Year
SmartCash Payment Service Bank, a subsidiary of Airtel Nigeria, has been honored as the MSME Payment Service Bank of the Year at the prestigious inaugural Nairametrics-The Economic Forum MSME Awards,…
- 5 Nov 2021
MTN, Airtel Secure Approvals to Operate Payment Service Banks
MTN Nigeria and Airtel Africa have secured approval in principle to operate a payment service bank (PSB). The telecommunications giants disclosed this in regulatory filings on the Nigerian Exchange…
- 23 Jan 2024
Smartcash Payment Service Bank Partners Stanbic IBTC Bank to Expand Access to Financial Services
Smartcash Payment Service Bank (PSB), a subsidiary of Airtel Nigeria, has announced its strategic partnership with Stanbic IBTC Bank which will focus on cash deposits and withdrawals for Smartcash…
- 19 May 2022
MoMo Payment Service Bank Formally Commences Operations
Following the final approval for a Payment Service Bank (PSB) licence granted by the Central Bank of Nigeria (CBN), MTN Nigeria’s fintech subsidiary, MoMo Payment Service Bank (MoMo PSB) Limited,…
- 30 Jan 2019
Licensing Telcos for Payment Services, Threat to Banks- GTB
Guaranty Trust Bank otherwise GTB has said that the decision of the Central Bank of Nigeria (CBN) to license telecommunications companies for payment services is a threat to banks operating in the…
- 25 May 2021
Arm’s Length Policy of Payment Service Banks in Nigeria: The need for Clarity
Emmanuel Okoegwale In furtherance to enhance access to basic financial services for underserved and unbanked segments of the society, the Central Bank of Nigeria created a new license category,…
- 17 Mar 2019
Payment Service Banks in Nigeria, Lessons from the Past
By Emmanuel Okoegwale Ten years ago, there was great optimism that the licensing of mobile money providers will usher in a new era in the drive for greater financial inclusion and fill the vacuum…
- 7 Dec 2018
Airtel Nigeria Banks on 40m Subscribers for “Payment Bank”
Airtel Nigeria is to set up a payment service bank (PSB) in Nigeria, that would help to deliver mobile banking services to its teeming customers, according to Segun Ogunsanya, its managing director.…
- 3 Mar 2024
MoneyMaster PSB Mobile Banking app Gaining Customer Confidence
MoneyMaster PSB, the mobile banking app of MoneyMaster Payment Service Bank Limited (MMPSB), has continued to receive positive reviews from customers across Nigeria. The bank recently introduced the…
- 2 Mar 2025
MoMo PSB Partners with Sochitel to Launch Gift Card Services
MoMo Payment Service Bank (MoMo PSB), a leader in digital financial services in Nigeria, recently partnered with Sochitel Group, a global leader in digital prepaid products. This collaboration…
- 5 May 2026
UBA, Redtech, MoMo PSB Expand Merchant Payment Access Across Nigeria
United Bank for Africa (UBA), Redtech, and MoMo PSB have launched a payment interoperability partnership that expands cardless payment access for consumers and merchants across Nigeria. Redtech is…
- 1 Nov 2024
MoneyMaster PSB Customers to Enjoy 10% Data Bonus Per Recharge
Customers of foremost payment service bank, MoneyMaster Payment Service Bank (MMPSB), will henceforth, enjoy a 10 percent data bonus offer on every recharge above N1,000 on their Glo lines. The data…
- 18 Mar 2024
MoneyMaster PSB Marks 2024 Global Money Week
MoneyMaster Payment Service Bank Limited (MMPSB), Nigeria’s payment service bank, is joining blue chip companies and other corporate entities across the globe to celebrate the 2024 Global Money Week…
- 5 Mar 2026
SmartCash Launches ‘No Be Cho Cho Cho’ Campaign to Boost Digital Banking in Nigeria
Smartcash Payment Service Bank (PSB), the Airtel-owned digital financial services platform, has unveiled a nationwide marketing campaign titled “No Be Cho Cho Cho”, signalling a strategic shift…
- 8 Nov 2023
MoMo Inks MoU with Kwik Delivery to Revolutionise Payment System
MoMo Payment Service Bank (MoMo PSB), a leading financial institution, and Kwik Delivery, a prominent logistics and warehousing company in Africa, are excited to announce their strategic partnership…
- 2 May 2019
How PSBs Can Become Nigeria Challenger Banks - Experts
The possibilities of the planned Payment Service Banks (PSBs) revolutionizing the financial services in Nigeria as they usher in a new era of change in delivering innovative payment solutions to…
- 10 Oct 2023
Smartcash PSB, Thunes Partner to Introduce Remittances in Naira
Smartcash Payment Service Bank Limited (Smartcash PSB) has partnered with Thunes, a cross-border payments infrastructure provider, to power international remittances in naira to mobile wallets.…
- 7 Oct 2022
Glo Launches MoneyMaster to Service Unbanked, Under-banked Nigerians
The Central Bank of Nigeria (CBN) has licensed Globacom’s MoneyMaster PSB, to foster the inclusion of millions of unbanked and under-banked Nigerians into the financial services ecosystem. The…
- 19 May 2022
SmartCash PSB Commences Operations in Nigeria
SmartCash Payment Service Bank Limited (‘SmartCash PSB'), subsidiary of Airtel Africa with a presence in 14 countries across Africa, has commenced operations in Nigeria. Services will initially be…
- 5 Jan 2024
Smartcash PSB Launches “Free Transfers to all Banks” Campaign
Smartcash Payment Service Bank, a subsidiary of Airtel Nigeria, has launched a new feature “Free Transfers to All Banks” which allows all customers to transfer funds to any bank account nationwide,…
- 22 Feb 2024
MoneyMaster PSB Records Increase in Customer Base
MoneyMaster Payment Service Bank, promoted and backed by digital services company Globacom has continued to witness tremendous increase in its customer base since it commenced operations. The PSB…
- 15 Oct 2024
MoMo PSB Partners Vendy Ltd to Deepen Financial Inclusion with Launch of WhatsApp Shop
As part of its commitment to driving innovation in the digital financial services sector, MoMo Payment Service Bank (PSB) and Vendy Ltd has teamed up with tech firm, Vendy Ltd to introduce WhatsApp…
- 23 Oct 2025
Smartcash Redefines Digital Banking with Zero-Charges on Transfers, Bills, and SMS Alerts
Smartcash Payment Service Bank (Smartcash PSB), a subsidiary of Airtel Nigeria, has announced Zero-Charges , a total removal of transaction fees across all interbank transfers, bill payments, and SMS…
- 21 Jan 2026
MoMo PSB Expands Cross-Border Transfers Across Africa
MoMo Payment Service Bank (MoMo PSB), the financial subsidiary of MTN Nigeria, has expanded its cross-border transfer service, extending outbound coverage to additional African markets (including…
- 26 Jun 2022
MTN Alleges N22Bn Fraud on Mobile Money Banking
MTN Communications Limited’s newly licensed Mobile Money Payment Service Bank Limited (MOMO PSB) has alleged a fraudulent loss of N22 billion in one month of operations. In a suit instituted by the…
- 8 Aug 2024
MTN Nigeria takes full control of MoMo bank for $4.6m
MTN Nigeria recently announced that it has successfully acquired a 7.17% minority interest in Mobile Money Payment Service Bank (MoMo PSB), which was formerly controlled by Acxani Capital, for a…
- 28 Nov 2024
MoneyMaster Promotes Financial Inclusion, Offers more Bonus to Customers
Julius Arhebun, the Head of Agency Banking a Nigeria's leading payment service bank, MoneyMaster, has disclosed that the promotion of financial inclusion is one of the core mandates of the service.…