Modupe Gbadeyanka
By Modupe Gbadeyanka
A partnership will enable customers to receive remittances from anywhere in the world, directly into their Smartcash Payment Service Bank (PSB) has been entered into with Simba Pay Limited, a subsidiary of MFS Africa.
A statement from the firm explained that Smartcash customers can instantly receive international funds directly into the account by simply sharing their phone numbers, which also serve as their account numbers.
Smartcash PSB, a subsidiary of Airtel Networks Nigeria, was launched in 2022, after obtaining an operating licence by the Central Bank of Nigeria (CBN) to provide financial services to unbanked persons in the country.
It has the authority to offer services like cash deposits, withdrawals, and fund remittances to individuals, small businesses, low-income households, and other financially excluded entities.
Speaking on the development, the Managing Director of Smartcash PSB, Mr Muyiwa Ebitanmi, said the inward international remittance services would solve another challenge with receiving funds from family and friends abroad for the financially excluded, by providing a hassle-free and efficient solution for individuals and families in the diaspora looking to send money quickly to their loved ones in Nigeria.
“With cross-border transfers, Smartcash has brought unprecedented convenience and speed to international remittance, making it easier than ever for Nigerians to enjoy seamless transactions at a global scale via their Smartcash accounts.
“We are certain that this service will not only improve the financial well-being of our customers but also contribute to the economic growth and spending capacity of Smartcash account holders in the country,” Mr Ebitanmi remarked.
Also commenting, the Director at MFS Africa, Mr Martin Mbonu, said, “We are excited to partner with Smartcash PSB on this launch as it visibly simplifies international money transfers for customers.
“This product offers a new level of convenience and efficiency, providing users with a faster and more accessible way to receive funds from the diaspora, and we are glad to be a part of this solution-centric initiative.”
As Smartcash hits its one-year service milestone, the launch of the SmartCash PSB International Remittances Service marks a significant innovatory for both the company, its customers and the Nigerian payment service bank market at large.
By providing a fast, affordable, and secure solution for international remittances, SmartCash PSB is empowering Nigerians to effortlessly support their families and loved ones, regardless of geographical boundaries.
