Fintava, a Nigerian fintech company, has partnered with Bizipay, an agent network based in Kano, to launch a new initiative aimed at improving financial access for over 100,000 people in Jigawa State who currently do not have bank accounts. This collaboration is designed to bridge the financial inclusion gap in the region, ensuring that more individuals can access essential banking services.
The initiative was announced in a statement on Tuesday, highlighting how Bizipay’s vast network of agents will play a crucial role in delivering these services to the unbanked population. By utilizing Bizipay’s existing infrastructure, Fintava aims to provide customized Point of Sale (POS) and ATM cards to beneficiaries. These cards will allow users to purchase essential goods and services from designated palliative shops throughout the state.
This effort aligns with the Jigawa State Government’s broader mission to promote cashless transactions, a strategy recently supported by Vice President Kashim Shettima during the inauguration of cashless palliative shops. The partnership between Fintava and Bizipay is expected to significantly contribute to financial inclusion, economic growth, and social development in Jigawa.
Dr. Aminu Bizi, the founder of Bizipay, praised the technology and approach of Fintava, describing it as one of the best in Nigeria due to its user-friendly and flexible solutions. He emphasized that this partnership represents a significant step forward in providing financial services to those who need it most.
Fintava’s mission is centered around empowering individuals through financial technology, and this initiative marks a key milestone in achieving that goal. By bringing modern financial services to Jigawa State, Fintava not only enhances access to essential products but also supports the overall objective of financial inclusion across Nigeria.
Samuel Ojerinde, the Chief Operating Officer of Fintava, expressed excitement about the project, stating, “Our role in financially including 100,000 people in Jigawa State solidifies our place as a major player in the Nigerian fintech industry.” He highlighted that this partnership with Bizipay underscores their commitment to providing accessible banking solutions to underserved communities.
Earlier last month, Fintava announced plans to expand access to financial services in Nigeria through its innovative banking-as-a-service (BaaS) technology. This model enables non-bank businesses to integrate financial services into their offerings using APIs, which allows them to provide features like branded credit cards, payment processing, and savings accounts without needing to become traditional banks.
The potential impact of this initiative is substantial. By bringing banking services to the unbanked, Fintava and Bizipay are not only helping individuals gain access to essential goods but are also fostering a culture of financial literacy and independence.
As financial technology continues to grow in Nigeria, initiatives like this one are crucial in ensuring that no one is left behind in the digital economy. By addressing the financial inclusion gap, Fintava and Bizipay are setting a standard for future efforts by fintech firms in the region.
