Pinch Technologies to revolutionize Nigeria’s fintech industry with payment app

Pinch Technologies Limited, operating under the cooperative license of Pinch Multipurpose Cooperative Society, is set to revolutionize Nigeria’s fintech industry with the launch of Pinch, its social payment app.

Co-founded by Abideen Olamilekan and Oluwafemi Akindoyin, who are interested in building Africa’s first social payment app; a P2P and B2B platform that allows individuals and businesses to handle payments with fun, while Wema Bank provides the banking services for the app.

“Imagine a world where you can send money to people and then continue to chat with them through the same application. Through this innovation, you can now have an ID where people can send you money and chat with you at the same time,” Olamilekan said.

According to him, the team has been working on the application since 2019, hoping that the launch will deepen financial inclusion in the market across Nigeria. He further states that with Pinch; financial transactions can be handled with fun. “I had an idea in my head about why people can’t do more with their mobile banking apps, and it got me thinking about how we can add more features to a banking app where people can do more by texting themselves than my partner and I built, Pinch.

“You can top up and pay bills, automate payroll for employees and liabilities, save and invest with amazing returns plus more with ease. With a Pinch tag, you’re good to go,” said Olamilekan.

Also read: Payment Service Banks: A gamechanger for financial inclusion in Nigeria

Oluwafemi Akindoyin, Co-Founder, Pinch Technologies Limited, stated that the risk of having money conversations via social platforms and text messages, which compromises financial security, has now been resolved with the introduction of the app as users do not need a third party app to share their receipts when making transactions.

“The app will serve as a solution to guarantee the security of your transactions, the highest level of privacy as well as security, and you now have an ID instead of your phone numbers, which means it costs to reach you now,” Akindoyin tired.

According to him, Pinch is proud of itself as the finance of the future. Therefore, subscribers should join the soon-to-be-launched app to be among the first set of customers to join the app’s first 10,000 pinchers through their waiting list, at mypinchapp.com.

Akindoyin noted that it requires readiness and a team of technicians willing to problem-solve and brainstorm, after which they came up with Pinch for the best user experience with a user interface that is fun and user-friendly.

“This is not just another fintech app. Our uniqueness lies in the fun and the ability to do much more like transact and chat at the same time. The Finance app doesn’t have to be boring as you can have fun managing your money yours, said Akindoyin.