Folopay unveils 9PSBmobile wallet

By Rosemary Iwuala

Falopay, a newly established digital finance company, has introduced its 9PSB mobile wallet to Nigerian digital consumers with the launch of several financial packages to enable seamless cashless transactions.

The was officially launched at the Lagos State University (LASU),while a second activation was launched at the Aswani market, Isolo-Lagos.

Some of the services include mobile payment using 9PSB, a payment service bank, for purchases, cash transfer, health insurance, auto/gadget insurance, pension, car maintenance plans, loans and savings, and a mobile wallet which enables access to health insurance and pension for individuals.

There are also special packages, one of such is called study abroad JAPA loan for students who dream of studying and migrating abroad.

Folopay is Africa’s first financial products distribution company registered and licensed with the CBN, using mobile technology.

Speaking at the launch, Oliver Grace, the chief executive officer of the company, said the Folopay fintech goals are in line with the overarching CBN cashless and financial inclusion policies for the economy.

According to her, there are millions of Nigerians with NIN but who do not have access to financial services because they do not have bank accounts. She added that there are only about  45 to 50 million persons with BVN whereas the population is over 200 million with people between 15 and 65 years over a hundred million.

“They are our major drive of enabling people to be included in the mainstream of offering and accessing financial services with the use of a mobile wallet,” she explained.

Folopay is Africa’s first financial products distribution company registered and licensed with the Central Bank of Nigeria (CBN).