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PenPay and Quickteller Join Forces to Boost Retirement Savings

PenPay and Quickteller Join Forces to Boost Retirement Savings (PHOTO: LinkedIn)
PenPay and Quickteller Join Forces to Boost Retirement Savings (PHOTO: LinkedIn)

PenPay, a leading distributor of financial services in Africa, has partnered with Quickteller, a prominent digital payment platform backed by Interswitch, to address a critical financial need in Nigeria.

In a bid to secure the financial future of millions of Nigerians, PenPay is now accessible at ATMs across the country. This move is particularly significant for those working in the informal sector, which forms a substantial part of Nigeria’s economy but often lacks access to financial services and retirement planning.

As Oluwaseun Adekanbi, Growth Manager at PenPay, highlighted, “We are thrilled to join forces with Interswitch to empower the 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.”

With PenPay’s extensive distribution network, it offers a practical solution for retirement savings. By integrating with Interswitch’s Quickteller platform, they can reach a wider range of customers, expanding its accessibility and impact.

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This partnership with PenPay will further boost our sustained efforts to deepen financial inclusion across Nigeria and beyond,” emphasized Omoniyi David-Mosaku, the Insight and Growth Specialist, Corporate Ecosystems at Interswitch. “We are excited about this partnership with PenPay, a powerful step towards empowering informal sector workers with a secure path to retirement.”

Informal sector workers can now contribute to their retirement savings via PenPay at various Interswitch-enabled ATMs across Nigeria. This newfound accessibility empowers millions of individuals who previously had limited options when it came to securing their financial future.

The partnership between PenPay and Quickteller is set to revolutionize financial inclusivity in Africa. Beyond facilitating retirement savings for informal sector workers, it aims to contribute to the overall economic growth and stability of the nation.

Moreover, this collaboration has the potential to extend its impact beyond Nigeria’s borders, positively influencing the lives of millions in the region.

Techrectory with Agency Report.

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See also TechConnect 3.0 Highlights: Adapting, Scaling, and Advancing with Fintech

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Written by Ayodeji Ayenuwa

Well, My name is there already, I'm a student of Adekunle Ajasin University, Akungba Akoko, studying Mass Communication: Public Relations and Advertising.

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