Smartcash Launches “No Be Cho Cho Cho,” Promises Zero Fees and 15% Savings Interest
Smartcash PSB, the fintech subsidiary of Airtel Nigeria, has formally launched its bold new campaign, “No Be Cho Cho Cho,” signaling a decisive shift from promises to performance in Nigeria’s banking landscape. Unveiled at a high-profile media event at the Lagos Continental Hotel, the campaign sets out to redefine everyday banking by putting tangible value directly into customers’ hands.
The launch convened key industry stakeholders, financial sector observers and members of the press for an in-depth engagement with Smartcash’s leadership team. At the heart of the conversation was a clear message: Smartcash is building a proof-led financial services model anchored on transparency, affordability and measurable impact not marketing rhetoric.
Speaking at the launch, Managing Director and CEO, Tunde Kuponiyi, stressed that financial inclusion is more than a buzzword for the bank, it is its core mission. He explained that the campaign slogan, “No Be Cho Cho Cho,” underscores Smartcash’s commitment to action over rhetoric, demonstrated through accessible, affordable banking solutions that impact customers’ daily lives.
At the heart of Smartcash’s offering is a zero-charge policy on all transactions, including transfers and bill payments. Customers also enjoy cashback rewards on bill payments and a savings product that delivers 15 percent interest per annum, compounded daily and credited to accounts every day, without penalties for withdrawals.
The event featured the premiere of three new television commercials, each illustrating the campaign’s message through relatable, everyday scenarios. The launch also created room for extensive engagement with journalists, providing deeper insight into the bank’s long-term strategy and value proposition.
Addressing questions about sustainability, Kuponiyi clarified that the zero-fee structure is not a temporary promotion but a foundational element of Smartcash’s operating philosophy. While statutory charges such as stamp duty on transfers above N10,000 still apply, the bank has eliminated transfer fees, SMS alert charges and other transaction-related costs it considers barriers to financial access.
Smartcash, which obtained its Payment Service Bank licence in 2022 and commenced operations the same year, says its strategy aligns with national and global financial inclusion goals. Kuponiyi linked the bank’s mission to the Central Bank of Nigeria’s drive to broaden financial participation, noting that deeper inclusion enables small businesses to access funding, expand operations and generate employment.
“We are making banking affordable, accessible and available to everyone,” he said.
Onboarding is designed to be simple and inclusive. Customers can register with any mobile number not limited to Airtel subscribers by downloading the app, verifying their identity with a National Identification Number (NIN) or Bank Verification Number (BVN), completing facial verification and setting a four-digit PIN. The registered phone number then functions as the account number.
For Airtel subscribers, Smartcash offers an additional incentive: 10 percent instant cashback on airtime and data purchases made through the app.
The bank also addressed concerns around failed transactions, noting that it operates an auto-reversal system to ensure customers’ funds are promptly returned in the event of unsuccessful transfers. Customer support is available via its dedicated care line.
Leveraging Airtel Nigeria’s nationwide footprint, Smartcash says it has a presence across all 774 local government areas through a network of agents. It has also enabled inbound international remittances directly into customer wallets through undisclosed partnerships.
According to the bank, its customer base is approaching three million, with active users defined as those who have transacted within the last 30 days.
On revenue sustainability, Kuponiyi explained that Smartcash operates within a traditional banking framework, mobilising deposits and deploying them though he declined to disclose detailed revenue structures.
With its zero-charge model and daily interest offering, Smartcash is positioning itself not merely as another digital wallet, but as a practical solution to everyday banking challenges.
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