The Entrepreneur Africa Magazine

Piggyvest Setup New Virtual Card As CBN Fights Providus

 

Piggyvest Nigeria top fintech company suffered some setback after CBN ban on banks engaging in cryptocurrency affected their partnership with Providus.

HOW DOES PIGGYVEST CONNECT WITH PROVIDUS
Providus provides virtual bank account (NUBAN) to piggyvest users to enable direct credit into their platform from any bank app.

This bank on Providus made this feature to be disabled and without NUBAN number piggyvest violates another CBN policy. In less than 24hrs Piggyvest solved the problem with a partnership with Wema.

Business lessson: Be flexible. The adoption of the virtual system if you understand coding is record time. I doubt if any bank in Nigeria can work with such spread.

See Also:  Nigeria: Rising Debts Pose Risk to Nigeria, Other Emerging Economies - IMF

Matthias Sunday

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