9 Payment Service Bank (9PSB) has highlighted the crucial role of collaboration in driving the growth of Nigeria’s payment service bank (PSB) industry.
Speaking at the Nigeria Fintech Forum held recently, Nasiru Isyaku, Executive Director of Finance and Banking Operations at 9PSB, emphasized the need for increased cooperation among industry players and regulators to build a resilient and robust payment ecosystem.
Isyaku outlined the vision for PSBs in Nigeria, stating that they will play a pivotal role in elevating the nation’s payment systems by providing affordable, accessible, and convenient digital payment options to the unbanked and underbanked population. He emphasized the importance of leveraging alternative data to assess customers’ financial profiles and develop tailored solutions.
The 9PSB executive highlighted the potential of real-time payments, mobile wallets, digital currencies, and open banking systems in shaping the future of the industry. He also called for regulatory adjustments to expand the scope of services offered by PSBs, enabling them to better meet customer needs.
“The future of PSBs lies in effective partnerships and the creation of innovative payment solutions,” Isyaku said. “By working together, we can build a payment ecosystem that drives financial inclusion and economic growth.”
The Nigeria Fintech Forum brought together key stakeholders in the fintech industry to discuss the challenges and opportunities shaping the sector.