Difference between a Payment Service Banks (PSB) and Deposit Money Banks (DMBs)

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Difference between a Payment Service Banks (PSB) and Deposit Money Banks (DMBs)

The Central Bank of Nigeria issued an approval in principle to two of the nation’s largest telecommunication firms, MTN Nigeria and Airtel Africa to operate as Payment Service Banks (PSB). The news was positively accepted by stakeholders in the FinTech space who believe this will deepen financial inclusion in the country and improve payment transfers…
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