The Future of Embedded Finance: WaaS as the Growth Engine 

Everything is changing rapidly, and nowhere is this more evident than in Nigeria’s thriving fintech ecosystem. As the fintech ecosystem matures, embedding financial capabilities into everyday digital experiences is the new growth mandate.  

We believe that scaling with purpose requires infrastructure built for agility, innovation, and reliability. That’s exactly where Wallet-as-a-Service (WaaS) comes in. 

Industry Pulse 

With over 200 million people, high smartphone penetration, and a booming digital economy, the demand for seamless financial services is accelerating and Nigeria is at the forefront of fintech adoption in Africa. 

But the story goes beyond payment. Fintech and digital platforms are rapidly embedding other services directly into lifestyle apps, transforming how people interact with money. 

The message is clear: embedded finance in Nigeria is already here and growing rapidly! 

Nigeria’s fintech sector is delivering tangible transformation in real time: 

According to the Nigeria Embedded Finance Business & Investment Opportunities Databook by PayNXT360: 

• The embedded finance market in Nigeria was expected to grow by 13.4% in 2024 alone, hitting US$1.118 billion in revenue. 

• Projections show a substantial surge to US$3.48 billion by 2029, at a Compound Annual Growth Rate of 25.5% 

According to the Nigerian Payments Report 2025 (developed by TC Insights in partnership with Zone). In the first half of 2024 alone, the country attracted $140 million in funding, and processed a staggering ₦1.56 quadrillion in e-payment transactions representing 70% of the entire volume recorded in 2023. With over 200 active fintech startups, the highest in Africa, Nigeria is cementing its role as a hub for financial innovation. 

This explosive rise underscores how financial services are being woven seamlessly into everyday platforms that Nigerians already use. 

Connectivity underpins growth 

According to Datareportal/GSMA insights, Nigeria’s digital economy thrives on connectivity, over 205 million active mobile connections, equating to approximately 90.7% of the population, underpin the nation’s fintech and digital growth. This pervasive mobile reach allows innovations not just payments, but lending, savings, and insurance to take root seamlessly within everyday apps. 

Mobile accessibility is also the backbone of financial inclusion in Nigeria. With more people connected via phones than bank accounts, fintech platforms now have unprecedented potential to bridge gaps in access and trust. 

The question now is how fintech and businesses can sustainably seize the moment. 

It’s simple. 

Today, Fintechs and businesses are moving far beyond payments, they are integrating services like lending, savings, micro-insurance, and credit directly within lifestyle apps. This means financial solutions are now part of everyday interactions.  

These developments are powered by a potent combination of factors: 

• A vibrant fintech ecosystem, backed by Nigeria’s deep digital infrastructure. 

• High mobile penetration and consumer readiness for digital financial services. 

• Proactive regulatory initiatives, including fintech sandboxes and Payment Service Bank (PSB) licensing.  

But innovation hasn’t just been technical, it’s been strategic. Embedded finance isn’t a futuristic jargon. It’s simple: bring finance to where customers already are. Whether shopping groceries or buying a car online, embedded finance meets users in real-time, in-platform. 

Solution: WaaS as the Growth Engine 

WaaS pre-built wallet infrastructure delivered via APIs and SDKs, is enabling businesses to embed secure, branded wallets into virtually any platform. This model delivers scalability, faster deployment, and tighter security. Businesses across retail, gaming, e-commerce, and emerging Web3 players are using WaaS to keep users in-platform and streamline payments. 

At 9PSB, our Wallet-as-a-Service (WaaS) lays the rails that power this new wave of embedded finance, helping businesses deploy quickly, innovate, and open new revenue opportunities. 

Shaping the Future with 9PSB WaaS 

Our Wallet-as-a-Service (WaaS) is designed to help fintechs and businesses move faster without compromising on security or scalability. By leveraging our pre-built wallet infrastructure and APIs, partners can embed secure, branded wallets directly into their platforms. 

The future is not about building everything from scratch. It’s about partnering with the right infrastructure provider to scale sustainably, securely, and smartly. That’s what 9PSB WaaS delivers. 

Imagine being able to offer instant wallets for payments, savings, lending, or loyalty all under your own brand while we handle the compliance, security, and scalability at the backend. 

Here’s how 9PSB WaaS empowers your embedded finance journey: 

• Scalability at Your Pace
  Our WaaS provides APIs that allow businesses to create and manage wallets effortlessly.  This infrastructure adapts to your growth, ensuring you never have to worry about bottlenecks. 

• Security & Compliance
  As a licensed Payment Service Bank, we ensure your wallets are not just functional, but fully regulatory-compliant. With strict adherence to CBN guidelines, you gain peace of mind knowing your services meet the highest industry standards. 

• Flexibility for Innovation
  From wallet creation and management to transaction history, wallet upgrades, configurable merchant fees, and even QR code capabilities, our WaaS gives you the flexibility to innovate around your customers’ needs. You build the experiences, and we power the rails. 

Why Choose 9PSB WaaS? 

• Cost-Effective 

• Faster Time to Market  

• Seamless Integration  

• Trusted Infrastructure  

• Effective Support 

To partner with us, send an email to ask@9psb.com.ng or call: 07002200005