A major licensed payment service bank, MoneyMaster Payment Service Bank (MMPSB), has continued to record growth in customer base in the country. MMPSB is promoted and backed by Globacom, Nigeria’s leading total telecommunications solutions provider.
MoneyMaster PSB focuses mainly on the unbanked and under-banked in order to deepen financial inclusion in Nigeria. Since the bank launched commercial operations in May 2022, the client base has been growing exponentially with hundreds of potential customers leveraging its digital channels such as USSD, mobile app and internet banking to open accounts, buy airtime and data, pay utility bills and more.
This positive growth outlook is due mainly to several innovations and services introduced in the past few months by the PSB for the benefit of its customers across the country.
According to industry sources, more Nigerians are joining the bank to enjoy the wide array of services on offer and conduct their financial transactions with ease and with assurance of security of their transactions.
The sources disclosed that there are currently over 4,000 billers on the MMPSB platform and that the number is growing on a daily basis. Through the platform, customers are able to pay for many essential services such as airtime, data, electricity, cable subscription, etc”.
Existing and new customers are in for an exciting time as the MMPSB continues to retool and reengineer for better customer experience. Several new initiatives are also set to be unveiled to delight customers.
MoneyMaster PSB was issued a license by the Central Bank of Nigeria (CBN) in August 2020. Payment service banks can, by virtue of their licenses, facilitate payment and remittance services within Nigeria, accept deposits from individuals and small businesses, issue debit and prepaid cards, operate electronic wallets, inbound remittances, and carry out other services in line with CBN regulations.
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