Firms Partner to Bring Micro-pension Contributions to PoS Nationwide
Emma Okonji TeamApt Limited, a leading payment infrastructure company, has partnered digital pension agent platform Awabah to power Pension Direct, a micro-pension solution for self-employed and informal-sector workers. The partnership
TeamApt Limited, a prominent payment infrastructure firm, has joined forces with Awabah, a digital pension agent platform, to launch Pension Direct. This new service aims to provide micro-pension contributions to self-employed and informal-sector workers across Nigeria. The announcement was made during the launch event in Lagos.
Dennis Ajalie, Managing Director and CEO of TeamApt, emphasized the importance of financial inclusion, stating that it's not just about enabling access to payments, but also providing tools for long-term security. He explained that for millions of Nigerians in the informal economy, consistently contributing to a pension has been challenging due to the lack of suitable infrastructure tailored to their unique earning and spending patterns.
Unlike formal sector workers, whose pension savings are often automatically deducted through payroll, the informal sector workers require a more tailored approach.
Ajalie further revealed that TeamApt created a Direct Debit service to address this issue, as it requires card tokenisation and recurring mandates that remain effective over extended periods. By merging this infrastructure with Awabah's pension expertise, they are now making long-term savings as seamless for artisans, traders, and other self-employed individuals in Nigeria.
Written by urgent.news from This Day's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
