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Top (5) List Of Payment Service Banks In Nigeria

Top (5) List Of Payment Service Banks In Nigeria


Payment service can be defined as a service that funds transfer transactions with or without payment accounts, which includes the operation of payment accounts (e.g. cash deposits or withdrawals), issuance or acceptance of payment instruments (e.g. debit cards), and mobile payments.

Payment Service Banks are agency banking to mobilize deposits and facilitate transfers from unbanked consumers in rural regions and any other location in Nigeria where they exist. It is a digital financial service that helps to expand and support financial stability.

Outline of payment service banks approved by the CBN: payment service banks in Nigeria.

  • Paga payment service banks in Nigeria
  • 9 payment service banks in Nigeria
  • Hope payment service banks in Nigeria
  • MTN payment service banks in Nigeria
  • SmartCash payment service banks in Nigeria

List Of Payment Service Banks In Nigeria

1. 9 PSB 16 Adeola Odeku Street Victoria Island Lagos www. Hopepsbank.com [email protected] 01-2272871 09017856291
2. Hope PSB Commerce House 1 Idowu Taylor Street Victoria Island Lagos www.9psb.com.ng [email protected] 08099080005
3. Money Master PSB Plot 19 Zone L Federal Government Layout Banana Island Foreshore Estate Ikoyi Lagos
4. MOMO PSB MTN Plaza Awolowo Rd Ikoyi 101233 Lagos www.momoagent.com.ng www.momoagent.com.ng/momo-psb 08099080005
5. SmartCash PSB www.smartcashpsb.ng [email protected] 09125-939-939

How Many Payment Service Banks In Nigeria

We have about 5 different payment service banks in Nigeria such as Paga payment service banks in Nigeria, 9 payment service banks in Nigeria, Hope payment service banks in Nigeria, MTN payment service banks in Nigeria, and SmartCash payment service banks in Nigeria.

9 Payment Service Bank

9 Payment Service Bank (9PSB) is a Payment Service Bank that operates under the approval of CBN to provide financial services and initiatives for underbanked and unbanked, as well as innovative services to individuals with bank accounts.

These firms provide services such as Virtual accounts, Wallet as a service, Agent Banking, USSD*999*0#, Bank9ja App, Payout solution, and Value-adding service(VAS).

Hope Payment Service Bank

Hope Payment Service Bank Limited (Hope PSBank) is a Nigeria’s premier Digital-first Bank. Incorporated in September 2019, Hope PSBank leverages digital technologies to deliver inclusive financial services.

These firms provide services such as – accessibility, affordability, availability, and awareness of digital financial services.

With Hope PS Bank, every mobile telephone user can easily enjoy instant digital banking services with his or her phone number as an account number and also a means of payment across all channels.

You can transfer, make an online mobile recharge, buy airtime & data, bill payments by using the USSD code *569*9#, and also become an agent.

How To Become An Agent

You can carry out basic financial services by becoming an agent commission. The following can become agents:

  • Unregistered business – Individuals.
  • Registered businesses – Limited liability companies, Sole proprietorships, Partnerships, Cooperative societies.
  • Corporates with retail chains / large distribution networks.

Download the Hope PS Bank mobile app, if you are in need of it.

Also, see: List Of Mobile Money Operator In Nigeria

MTN Payment Service Bank

MTN Payment Service Bank has a large mobile money business across Africa and on April 11, 2022, the Central Bank of Nigeria granted MTN Nigeria final approval to operate a Payment Service Bank.  An allows users to create accounts, pay bills, send and receive money, and more -services.

With the new PSB license, MTN’s MoMo PSB can:

  • Accept deposits from customers and small businesses
  • Hold funds in an electronic wallet
  • Invest in interest-bearing FGN and CBN securities and offer saving products
  • Engage in different forms of local payments including merchant payments, bill payments, and person-to-person transfers
  • Provide inbound remittance services
  • Issue prepaid and debit cards
  • Provide POS and ATM services
  • Build a network of physical banking agents for deposits, payments, and withdrawals

MOMO Payment Service Bank

MoMo Payment Service Bank (Momo PSB) launched its mobile money operations with a focus on facilitating high-volume, low-value transactions in remittance services, micro-savings, and withdrawal services.

Nigerians can open a MoMo bank account by dialing *671# on any network, initiating fund transfers, and paying bills and remittances. You can also withdraw cash from their MoMo PSB wallets by visiting a MoMo agent or transferring to other banks.

Smartcash Payment Service Bank

SmartCash is a leading and innovative Payment Service Bank that provides rural and urban Nigerians secured and reliable banking services as well as supporting the Central Bank of Nigeria’s (CBN) drive to ensure financial Inclusion for every Nigerian.

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