esusuPAY

Features esusuPAY

esusuPAY is a digital platform designed to simplify thrift savings, collections, and microcredit towards enhancing the delivery of digital financial services to the last mile.
The solution explores cloud and mobile payment technology to enhance transactions of the scheme.
The system also provides members and management of the schemes with instant information on any transaction made and it guarantees the security of data and information.
ESUSU means an informal way of saving peculiar to Africans.
It is done by mainly WOMEN constituting petty traders, small-scale enterprise owners, farmers, and artisans who live in rural and urban areas.
It is practiced and facilitated individually or collectively across local thriftcollectors, savings clubs, microfinance institutions, and cooperative societies.
They are frequently posed with the problems of manual record-keeping, fraud, reconciliation issues, and low access to digital financial services.According to the 2020 A2F survey by Enhancing Financial Innovation and Access in Nigeria (EFInA), Nigeria currently has a National Financial Inclusion rate of 64.9%, and a financial inclusion gender gap of 8% and proposes to achieve 93% overall financial inclusion and close the gender gap in accessto finance by 2024.In addition to reducing the high statistics on women’s exclusion, esusuPAY is aimed at enhancing the Central Bank of Nigeria (CBN’s) digital financial drive to help curb restiveness amongst the youth population by exposing them to economically viable ways of improving their livelihoods and ensuring that they understand the need for safety of their funds protected within formal financial institutions.