PiggyVest Takes Control: Launching Internal Payment Infrastructure with PocketApp
PiggyVest, the popular Nigerian fintech platform, is enhancing user experience and control by launching its own payment infrastructure powered by PocketApp virtual account numbers. This strategic move aims to give PiggyVest greater autonomy over its payment processes, reducing reliance on third-party providers. Since its inception in 2016, PiggyVest has relied on card payments and externally sourced virtual account numbers for users to fund their accounts. This new development marks a significant shift toward internalizing critical components of its service.
Streamlining Payments with PocketApp
According to Joshua Chibueze, Co-founder and Chief Marketing Officer at PiggyVest, virtual account numbers offered users more funding flexibility, especially for those hesitant about automatic debits. However, this approach made PiggyVest dependent on external entities for these virtual account numbers. Now, leveraging PocketApp, acquired in 2022, PiggyVest has spent the last three years developing its own internal payment infrastructure. This new system, built in collaboration with Paystack, will initially support funding for Flex Naira and House Money accounts. PiggyVest plans to broaden the coverage to include other services in the near future.
By integrating PocketApp’s virtual account numbers, PiggyVest is poised to deliver a more seamless and controlled experience for its users, solidifying its position in the competitive African fintech landscape. This move demonstrates PiggyVest’s commitment to innovation and its focus on providing users with secure and convenient saving and investment solutions.
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