XCHANGEBOX
Financial Services - Abuja, Federal Capital Territory, Nigeria
XCHANGEBOX Employees
XCHANGEBOX Senior Management
XCHANGEBOX Details
Xchange Box Solutions is a fast-growing technology solution-driven company in financial technology (fintech) with strength in agency banking, enterprise solutions and other ancillary tech-based services.We commenced business operations in July 2019 and through our Agency Banking platform (PayRep), we have been providing cutting edge services which enables Agent Points collections, bill payments, and other ancillary services. Our business model/strategy is positioned to complement the efforts of the Federal Government of Nigeria to ensure financial inclusion through Fintech.Findings have shown an exponential growth in the Fintech industry given the necessity of access to financial services. Despite this growth, the Fintech market has reportedly enabled a 3.3% penetration via agency banking and has the capacity to grow to an optimal level in the coming years according to EFINA. This is particularly becoming compelling with the high cost of establishing a bank branch location. It is interesting to know that as of date there are about 41.89 million active debit cards issued in Nigeria with the highest percentage of the users resident in rural areas with less access to ATM points, hence the increasing growth in the use of Agent Cash Out locations for transactions.
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