Piggyvest, a top payment platform in Nigeria, has introduced PocketApp account numbers for its users. This new feature is designed to simplify payment processes and minimize transaction errors.
With the launch of PocketApp account numbers, users can now directly fund their Piggyvest wallets without relying on external intermediaries. Piggyvest describes this as having its own banking system, allowing users to withdraw funds straight to their PocketApp accounts and transfer money to other banks effortlessly.
During the official unveiling on Tuesday, Odunayo Eweniyi, Co-founder and COO, highlighted that PocketApp establishes a direct link between Piggyvest and the Nigeria Inter-Bank Settlement System Plc (NIBSS).
“Think of PocketApp as Piggyvest’s proprietary bank. Every Piggyvest user now has a PocketApp account number connected to their FlexNaira and House Money wallets, enabling quicker funding,” she explained.
This collaboration allows Piggyvest to handle customer withdrawals independently, removing the need for third-party services such as Flutterwave, Paystack, and other payment gateways.
Thanks to this upgrade, users can now transfer funds directly into their FlexNaira and House Money wallets using their PocketApp account numbers. Additionally, sending money to external bank accounts has become a smoother experience.
Previously, users faced challenges when withdrawing funds to other banks, often encountering delays that could last hours or even days. These issues caused funds to be temporarily inaccessible, frustrating many customers.
By securing a direct connection with NIBSS, Piggyvest now enables instant withdrawals to PocketApp accounts and seamless transfers to other financial institutions. Users can also top up their Piggyvest wallets directly from their PocketApp balances.
Also Read: ‘Withdrawal glitches resolved with PocketApp’ – Piggyvest.
Steps to Obtain Your PocketApp Account Number
The PocketApp account number feature is accessible within the FlexNaira and House Money sections of Piggyvest. To utilize this service, you must have an active Piggyvest account.
Follow these steps to generate your PocketApp account number:
Step 1: Sign in to your Piggyvest account.
Step 2: Navigate to the “Add Money” option located in either the FlexNaira or House Money wallet on your dashboard.
Step 3: Choose “Create New Account” or “Claim your account number.”
Step 4: Scroll through the list and select “Pocket App” as your bank of choice.
Step 5: Click on “Create Nubank.”
Once confirmed, you will be assigned a unique 10-digit PocketApp account number.
You can also view your PocketApp account number at the top right corner of your FlexNaira and House Money wallet dashboards.
Implications of the New PocketApp Feature
Historically, Piggyvest relied on external payment partners to provide virtual account numbers for funding FlexNaira and House Money wallets. When these third-party services experienced downtime, users faced delays in deposits and withdrawals.
With the introduction of PocketApp, Piggyvest now controls its entire payment infrastructure, ensuring faster and more reliable transaction flows. This eliminates dependency on external providers for end-to-end payment processing.
Moreover, Piggyvest now has full autonomy over its services, allowing its technical team to address any issues internally without waiting on third-party support. Similar to conventional banks, Piggyvest’s direct integration with NIBSS empowers it to manage payment disbursements independently.
“PocketApp’s direct connection to NIBSS means that account numbers are registered within the NIBSS system. Any downtime is likely due to NIBSS itself. Even if Piggyvest encounters a problem, our engineering team can promptly resolve it internally,” stated Ibukun Akinola, Director of Payments, during the September OpenHouse Event in Ibadan.
For users, this advancement promises a more dependable platform for making payments and transferring funds without concerns over technical disruptions.
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