PocketApp is a financial application developed by Abeg Technologies Ltd, which operates under a license from the Central Bank of Nigeria (CBN) as a Mobile Money Operator, with all funds safeguarded by the Nigeria Deposit Insurance Corporation (NDIC). This assures users of both the legitimacy and security of their transactions, providing a safe platform for managing their finances.
The app features three distinct types of wallets, referred to as pockets, designed to cater to different needs. The personal pocket allows users to send, receive, and manage their personal funds efficiently. It enables quick money transfers, online shopping, and bills payments such as electricity or internet services. The business pocket is tailored for entrepreneurs and allows them to create online stores, manage payments, and track sales without incurring any commission charges. Lastly, the group pocket facilitates collective financial management, making it easier to handle shared expenses or contributions among a group of individuals.
With personal pockets, sending money to anyone within the app is free and quicker than traditional methods, with no downtime involved. Users can easily transfer funds to any bank in Nigeria, link a Pocket Debit Card for spending, and manage their bills efficiently. The platform also includes a user-friendly shopping experience with escrow services for added security. Additionally, users benefit from monthly bonuses as part of their engagement with the app.
For business users, PocketApp offers a free, customized account number, and the ability to create an online storefront without any sales commission. Businesses can add staff members to manage orders and set up multiple accounts for streamlined financial handling. The group pockets further enhance collaborative financial management, allowing groups of two to 100 individuals to manage their cash transparently and efficiently. Administrators can set rules governing access to funds, ensuring proper financial management for collective expenses, whether for business operations, household budgets, or group contributions.