Eyowo, a digital bank, with the  aim  to encourage financial inclusion among every Nigerian by making banking as easy as having a phone number to transact or transfer money.

Eyowo started operations in 2017, and its initial offering was to promote ease of access to money without the use of bank accounts. Hence its involvement with TraderMoni, a Federal Government empowerment scheme for small and medium-scale businesses, who uses Eyowo as a loan disbursement and repayment medium.

The loan acquisition agency deposits funds into trader’s Eyowo accounts, which they can acess through ATMs that allow cardless withdrawal or by transferring to their respective bank accounts through designated USSD code(*4255#).  Apart from this, other modes of using funds in an Eyowo account haven’t changed – pay bills, airtime, transfer and save. Conversely, it allows users to borrow with no interest and also invest.

Eyowo  has launched a retail bank for businesses, which uses a single tool – a specialized PoS terminal  to centralize tasks like management of orders and payments, monitoring customers inventory, settlement and reconciling transactions. This new tool gives Eyowo an edge, in a space with other companies have similar options. Eyowo  retail bank is believed  to be the best real-time solution for merchant’ sales problems. However, the startup’s plan to become an interface where other digital banks and payment platforms can integrate their solutions  through its API documentation and software development kits.



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