PayPassage, a digital transaction solutions provider, announces the launch of its financial services outlet in Nigeria.
A statement reports that the unbanked and underbanked in Nigeria would get digital financial solutions through the aid of PayPassage services outlet, which would drive financial inclusion.
In the same vein, Nigeria is one of the top three unbanked countries in the world, with 40 per cent of its population without a bank account.
The report adds, “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 its customers a seamless, affordable, secure and fast payment experience across multiple channels with the launch of its Financial Services offerings.”
According to the statement, BlocPal is a Canada-based fintech leader with operations in India, Mexico, North America and parts of Europe.
It said, “Our partnership with BlocPal International will enable PayPassage to leverage on BlocPal’s Blockchain technology to uplift and integrate financial services in Nigeria, riding on its experience.
“This will enable PayPassage to drive financial inclusion to the unbanked and underserved population in Nigeria.”
Furthermore, partnership would further position PayPassage as one of the leading financial solutions providers in Africa.
It said the marketplace would offer digital financial services with physical on-the-ground retailers to help drive financial inclusion in Nigeria’s communities.
The Chief Executive Officer, PayPassage, Folarin Tomori, said, “There has been a strong need for offering affordable and accessible financial solutions in Nigeria through a retailer-enabled digital platform.
“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.”