TeamApt Limited, a leading payment infrastructure company, has partnered with digital pension agent platform Awabah to power Pension Direct, a micro-pension solution designed for self-employed and informal-sector workers. The partnership was officially announced during the launch of Pension Direct in Lagos.
Through this integration, TeamApt’s Direct Debit infrastructure enables Pension Direct to automate recurring pension contributions on both web platforms and Point of Sale (POS) terminals. Moniepoint Microfinance Bank (MFB) has been announced as the first distribution network to deploy Pension Direct across its agent network spanning all 774 local government areas in Nigeria.
The integration allows informal sector workers including artisans, traders, and gig workers to register for personal pensions and set up automated savings at neighborhood agent locations. Users can enroll in a personal pension plan at a POS terminal within minutes through a fast-onboarding process. Customers securely link their debit cards to create recurring contribution mandates via card tokenization. Finally, TeamApt’s Direct Debit service processes recurring payments automatically in the background, eliminating the need for manual deposits.
TeamApt and Awabah plan to scale the solution across additional distribution networks to deepen micro-pension adoption nationwide.
Speaking at the launch, Dennis Ajalie, Managing Director/CEO of TeamApt, emphasized the importance of tailoring infrastructure to how informal workers earn.
“Financial inclusion isn’t only about giving people access to payments; it’s about giving them access to the financial tools that help them build long-term security. For millions of Nigerians in the informal economy, contributing consistently to a pension has often been difficult because the underlying infrastructure wasn’t built for the way they earn and spend,” Dennis Ajalie, MD/CEO, TeamApt.
He added that TeamApt built its Direct Debit infrastructure specifically to solve this issue through secure card tokenization and long-term recurring mandates, creating a seamless contribution model similar to formal payroll deductions.
Beyond micro-pensions, TeamApt plans to extend its Direct Debit infrastructure to support recurring payments across insurance, investments, and other essential financial services.