MoneyMaster PSB named payment partner for ‘Ounje Eko’

MoneyMaster Payment Service Bank has been appointed a collection and payment partner by the Lagos State Government for its ‘Ounje Eko’ discount market.

The ‘Ounje Eko’ discount market is an initiative of the Lagos State government aimed at providing food items at reduced prices to residents of the state amid rising food costs in the country.

‘Ounje Eko’ Food Markets programme was introduced by the state government across the five divisions of Lagos State on Sunday, March 17, 2024.

A statement from the PSB on Wednesday said that with that appointment, MoneyMaster Payment Service Bank will collect payments in the 57 local government areas and local council development areas in the state.

“To support the Lagos State Government in the realisation of the ‘Ounje Eko’ initiative, MoneyMaster will be deploying its cutting-edge payment solution to facilitate seamless payment and reconciliation to ease the experience of Lagosians who will be patronising the markets. Its payment solution is also robust and can provide real-time value to payment destinations.

“This appointment is a testament to the quality of payment solutions that MoneyMaster deploys for its growing business partners in the private and public sectors. It will be recalled that MoneyMaster was one of the five Central Bank of Nigeria-licensed Payment Service Banks to promote financial inclusion across Nigeria,” part of the statement read.

Earlier, MoneyMaster Payment Service Bank disclosed plans to promote financial literacy among 5,000 Nigerian children during 2024 Global Money Week.