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PayPassage, a digital transaction solutions provider that makes financial products and services more affordable and accessible is set to officially launch its Financial Services Platform in Nigeria. The Financial Services Platform will offer digital financial solutions to help drive financial inclusion of the unbanked and underbanked in Nigeria.

Lagos, Nigeria
|
January 25, 2022

PayPassage, a digital transaction solutions provider that makes financial products and services more affordable and accessible is set to officially launch its Financial Services Platform in Nigeria. The Financial Services Platform will offer digital financial solutions to help drive financial inclusion of the unbanked and underbanked in Nigeria.

Nigeria is one of the top three unbanked countries in the world, with 40% of her population without a bank account1. Out of the 59 million unbanked adults, 73% do not have the requisite documents to open a tier 3 bank account2. It is this financial landscape that necessitated the birth of PayPassage to provide her customers a seamless, affordable, secure and fast payment experience across multiple channels with the launch of her 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.

“There has been a strong need for offering affordable and accessible financial solutions in Nigeria through a retailer-enabled digital platform”, says Folarin Tomori, CEO of PayPassage. “Partnering with BlocPal International to bring these financial solutions to Nigeria is not only driving financial inclusion but providing the opportunity for the Nigerian population to participate in the global digital economy”.

“What makes us unique is the ability to scale our platform to different geographies while adhering to customer needs and regulatory requirement”, says Nick Mellios, CEO of BlocPal International. “We are excited to “leverage our insights and experience from our India operations and bring our advanced 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 all across the country.”

With the number of mobile phone connections in Nigeria as at January 2021 equivalent to 90% of the total population3, 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 on the BlocPal technology, PayPassage can also bring these solutions into other countries in Africa that are in need of financial inclusion by delivering digital payment processing and fintech services to help enterprise partners enjoy seamless experience, affordable transaction, create new revenue streams and build more loyal relationships with their customers.

About PayPassage

PayPassage’s vision is to provide a seamless, fast, simple, secure and affordable digital payment experience across industries and consumer segments, with the intention of empowering consumers, merchants, and enterprise partners. PayPassage provides a suite of services that will not only drive financial inclusion but provide more opportunities to the African population to participate in the global digital economy. 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. PayPassage leverages on BlocPal’s Blockchain technology to uplift and integrate financial services in Africa building on BlocPal’s experience in India, Mexico, parts of Europe and Canada. This partnership is expected to position PayPassage as one of the leading financial solutions providers in Africa.


About BlocPal

BlocPal’s vision is to provide the world a simple, fast, and secure digital transaction platform that allows anyone to transact in their currency or asset of choice. An emerging leader in the digital economy, BlocPal empowers consumers, merchants, and enterprise customers to actively participate in an evolving digital economy, which includes both fiat (and as regulations permit) and cryptocurrencies. With its suite of applications, BlocPal’s ecosystem supports a range of solutions via integrated APIs, point-of-sale, e-commerce, white-label enterprise solutions, loyalty rewards, financial network integrations and robust consumer digital wallets.

Contacts

Paypassage Services Limited
Telephone: 0700123PAYPASS
Email: info@paypassage.com.ng

Michael. A. Samuel – Head Corporate Affairs
Telephone: 0700123PAYPASS
Email: coporate@paypassage.com.ng

1Mckinsey & Company Harnessing Nigeria’s fintech potential September 23, 2020
2EFInA Access to Financial Services in Nigeria Survey 2020.
3https://datareportal.com/reports/digital-2021-nigeria