PENPAY, the flagship product by Awabah aimed at establishing the most extensive financial services distribution network in Africa, is thrilled to announce its partnership with Quickteller, the foremost consumer digital payments platform powered by Interswitch, a prominent integrated payments and digital commerce firm in Africa.
This strategic collaboration is set to bring structured retirement savings plans through Quickteller within the reach of informal sector workers.
With PenPay’s availability now extended to ATMs all across Nigeria, countless Nigerians will have the opportunity to secure their financial futures.
The Innovative Solution by PENPAY
The informal sector constitutes a substantial part of Africa’s economy, employing a significant workforce. Nonetheless, owing to the absence of formal employment opportunities and limited access to financial services, many in this sector struggle to plan adequately for their retirement.
Recognizing this challenge, PenPay and Quickteller have united forces to bridge the gap and ensure that no informal sector worker is left behind.
PenPay, leveraging its extensive distribution network, offers an innovative and convenient solution for individuals to save for their retirement.
By harnessing Interswitch’s well-established Quickteller platform, PenPay is poised to reach a broad spectrum of both online and offline customers, significantly enhancing its accessibility and impact.
This partnership will enable informal sector workers to make contributions to their retirement savings through PenPay at various Interswitch-enabled ATMs across Nigeria, empowering millions who previously had limited options for securing their financial future.
The integration of PenPay with Interswitch’s Quickteller platform is a game-changer for financial inclusivity in Africa’s future.
This partnership is not only facilitating retirement savings for informal sector workers but also contributing to the overall economic growth and stability of the nation.
Collaboration Between PENPAY and Interswitch
By unlocking the potential of these workers, the partnership aims to drive financial resilience and prosperity for individuals and communities throughout Nigeria. Furthermore, with PenPay’s extensive network and Interswitch’s wide-reaching presence, this collaboration has the potential to extend its impact beyond Nigeria’s borders, positively influencing the lives of millions in the region.
Oluwaseun Adekanbi, Growth Manager at PENPAY, expressed their enthusiasm for this partnership, stating,
“We are thrilled to join forces with Interswitch to empower informal sector workers across Nigeria. Through this collaboration, we will ensure that everyone, regardless of their employment type, can access retirement savings and plan for their financial future. This is a significant step towards achieving our mission of fostering financial inclusivity in Africa.”
Omoniyi David-Mosaku, the Insight and Growth Specialist of Corporate Ecosystems at Interswitch, also expressed excitement, saying,
“This partnership with PenPay will further boost our sustained efforts to deepen financial inclusion across Nigeria and beyond. We are excited about this partnership with PenPay, a powerful step towards empowering informal sector workers with a secure path to retirement.”
The collaboration between PENPAY and Interswitch marks a pivotal moment in the journey toward economic development and financial inclusion.
By offering retirement savings to the informal sector workforce, they aim to create a society where every individual can build a secure financial future.
For more information about PENPAY and its partnership with Interswitch, please visit www.penpay.com.ng or contact 01-2296733.
PENPAY & Quickteller
PENPAY is a product of Awabah, a leading financial technology company in Africa, dedicated to promoting financial inclusivity through innovative solutions.
Interswitch on the other hand, is a leading technology-driven company enabling access to financial services across Africa. Its Quickteller platform provides safe, convenient, and reliable payment solutions to millions of individuals and businesses.