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By Dipo Olowookere
The financial technology (fintech) ecosystem in Nigeria has continued to attract the best and the latest company entering the space to provide consumers with affordable and transparent services is PayPassage.
The company partners with BlocPala Canadian-based fintech leader with operations in India, Mexico, North America and parts of Europe, to deepen financial inclusion in Nigeria.
A statement from the organization revealed that its financial services platform to be officially launched in Nigeria will soon offer digital financial solutions to help foster financial inclusion for the unbanked and underbanked in Nigeria.
Nigeria is one of the top three unbanked countries in the world, with 40% of its population without a bank account and of the 59 million unbanked adults, 73% lack the required documents to open a bank account. level 3. .
The desire to bridge this wide gap in the country’s financial landscape necessitated the birth of PayPassage, which aims to provide its customers with a secure and fast payment experience across multiple channels.
To facilitate this, the digital transaction solution provider will rely on BlocPal blockchain technology to elevate and integrate financial services in Nigeria.
According to the release, the partnership will further position PayPassage as one of the leading providers of financial solutions in Africa. This marketplace will offer digital financial services with physical retailers on the ground to help foster financial inclusion in Nigerian communities.
Indeed, the financial ecosystem supports a range of solutions for digital engagement with customers, including point-of-sale, e-commerce, white-label enterprise solutions, loyalty rewards, integration of financial networks and a robust consumer digital wallet.
“There has been a strong need to offer affordable and accessible financial solutions in Nigeria through a digital platform enabled by retailers,” said PayPassage CEO, Folarin Tomori.
“Partnering with BlocPal International to bring these financial solutions to Nigeria not only boosts financial inclusion, but also provides the Nigerian people with the opportunity to participate in the global digital economy,” Tomori added.
Also commenting, BlocPal International CEO Nick Mellios revealed that “what makes us unique is the ability to adapt our platform to different geographies while meeting client needs and regulatory requirements.
“We are excited to leverage our knowledge and experience from our operations in India and bring our cutting-edge technology to Nigeria. We are committed to partnering with retailers and financial entities in Nigeria and providing a wide variety of affordable financial solutions to communities across the country.
With the number of mobile phone connections in Nigeria in January 2021 equivalent to 90% of the total population, Nigeria is ripe for the financial integration that PayPassage can bring.
PayPassage offers unique accessibility and scalable infrastructure to easily integrate into the Nigerian economy. Leveraging BlocPal technology, PayPassage can also bring these solutions to other countries in Africa that need financial inclusion by providing digital payment processing and fintech services to help partner businesses take advantage of ‘seamless experience, affordable transactions, create new revenue streams and build more loyal relationships with their customers