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

Pinch Technologies Limited, which operates 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 platforms that allow individuals and businesses handle payments with fun, while Wema Bank provides the banking services for the app.

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

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

“You can recharge and pay bills, automate salary payment for employees and commitments, savings and investment with amazing ROI plus more with ease. With a Pinch tag you are good to go,” Olamilekan stated.

Read also: 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 and texting platforms, which compromises finance security is now solved with the introduction of the app as users would not need a third party app to share their receipts when they make transactions.

“The app would be serving as a solution in guaranteeing the safety of your transactions, the highest level of privacy as well as security and you now have an ID in place of your phone numbers which means reaching you now comes at a cost,” Akindoyin stated.

According to him, Pinch takes pride in itself as the future of finance. Hence, 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 waitlist, at mypinchapp.com.

Akindoyin noted that it takes readiness and a team of techies who are willing to solve problems and brainstorm, after which they came up with Pinch for the best user experience with a UI that is fun and user friendly.

“This is not just another fintech app. Our uniqueness is in the fun and the ability to do much more such as make transactions and chat at the same time. Finance app don’t have to be boring as you can have fun handling your money,” Akindoyin stated.