Airtel has revealed success stories of users of its Smartcash Payment Service Bank (PSB), a product that has deepened financial inclusion in Nigeria and mitigated the current effects of cash crunch in the country.
SmartCash is an innovative PSB with a vision of bridging the financial divide by providing 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.
Speaking at Airtel’s Experience Centre along Oba Akran Road, Ikeja, Tooni, one of the users of Airtel’s Smartcash said she had both Momo PSB and Smartcash PSB wallets.
According to her, Smartcash has been really useful to her during this period, as it has made transfers seamless.
Tooni said Smartcash was introduced to her by the agent who sold her Airtel Simcard to her.
She said she was informed that owning a wallet and buying credit from her wallet means she would automatically get a 100 percent bonus.
She hinted that she didn’t believe the agent at first because she assumed that she was given double the airtime she bought because her sim card was new but every other recharge she purchased using Smartcash has been doubled.
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“When customers started saying they can only transfer money, I gave them my wallet number from Smartcash as the account to transfer to. I always get the money almost immediately even though people in other markets complain of bank network issues.
“One reason I have stuck to using Airtel bank is that my phone number is my account number, so there is no need to remember a separate number, especially during this time when tension is high. Because of how fast and how easy it is to open, I have introduced it to all my friends and they are all enjoying this goodness of Smartcash with me.” She said.
Another customer that identified himself as Kazeem confirmed that cash withdrawal was possible and hassle-free with Smartcash.
He had in fact come to Airtel’s Experience Centre as his last hope of getting cash.
Further probing about the cash withdrawal process, reveals that getting cash from your wallet began with dialing *939# and following the withdrawal prompts.
To authenticate the withdrawal, a unique pay code will be sent to the phone number attached to the wallet. This code is represented to the agent in exchange for cash. A token of N50 is charged for any withdrawal below N5,000.
“Imagine the relief the seamless transaction process PSBs offer if more people knew about them and understand how they work. It is high time we embrace digital banking as a nation because there are indications that this is just the beginning of the move toward a fully cashless economy,” another user explained.
