PayPassage, a digital transaction solutions provider offering affordable financial products and services is set to officially launch its financial services platform in Nigeria. The platform will offer digital financial solutions to help drive financial inclusion for the unbanked and underbanked in Nigeria.
Nigeria is one of the top three unbanked countries in the world, with 40 per cent of its population without bank accounts. Out of the 59 million unbanked adults, 73 per cent do not have the requisite documents to open a tier 3 bank account. It is this financial landscape that necessitated the birth of PayPassage to provide customers a seamless, affordable, secure and fast payment experience across multiple channels with the launch of its financial services offerings.
“BlocPal is a Canada-based fintech leader with operations in India, Mexico, North America and parts of Europe. Our partnership with BlocPal International will enable PayPassage leverage on BlocPal’s Blockchain technology to uplift and integrate financial services in Nigeria, riding on her experience. This will enable PayPassage drive financial inclusion to the unbanked and underserved population in Nigeria. The partnership will further position PayPassage as one of the leading financial solutions providers in Africa. This marketplace will offer digital financial services with physical on-the-ground retailers to help drive financial inclusion in Nigeria’s communities. Our financial ecosystem supports a range of solutions for digital engagement with customers including Point-Of-Sales, e-commerce, white label enterprise solutions, loyalty rewards, financial network integration and a robust consumer digital wallet” the firm said in a statement.