Are you looking for a mobile app that does more than just send and receive money? Look no further than PocketApp by PiggyVest! This innovative platform is designed to empower both savers and business owners in Nigeria.
In this blog post, we will look at what PocketApp by PiggyVest is. We’ll see its features, and benefits, and even share some user experiences to help you decide if it’s the right fit for you. So, whether you’re looking to streamline your finances or start your own online business, PocketApp by PiggyVest might just be the one-stop solution you’ve been waiting for.
What is the Pocket App?
The PocketApp by PiggyVest (formerly Abeg App) is a mobile payment platform designed to help business owners and people who save. The PocketApp was previously owned by Abeg Technologies LTD but is now owned by Piggyvest, the popular savings and investment platform.
PiggyVest bought the Abeg app secretly on an undisclosed date around 2021/2022. The Pocket app has a license from the Central Bank of Nigeria (CBN) with insurance of deposit from NDIC. The Pocket App was made to give entrepreneurs and others a platform to Shop & Sell, Pay, and Get Paid in Nigeria. They also have operations in the US and the UK.
Benefits of The Pocket App
Unlike the other mobile money operators in Nigeria, like KongaPay, Palmpay, Opay, etc, PocketApp by PiggyVest takes a different approach to online banking. They have other services they provide, which even those considered the best mobile money operators in Nigeria, don’t have.
Before the transition of the Abeg app into the Pocket app, you could only send and receive money, but now, you can do more. The Pocket app now serves as an e-commerce platform where you can have a “shop”, showcase your products, and easily sell them.
The Pocket app directly helps you market your products to people who have money on the platform. You can also receive payments on the platform with 0% commissions, giving you full control of your money.
Selling also got easier with the Pocket app as you can now sell without fear of being scammed. You can use the platform as an escrow where you can safely keep money until a job is completed.
Getting Started With a PocketApp by PiggyVest?
To use a Pocket app, you need to have an account and here you will know exactly how to do that. You can download the Pocket app on your device, either iOS or Android, by clicking here.
Requirements for using PocketApp
As a regulation by the CBN, you must link your National Identification Number (NIN) to register on MMOs. Specifically, other things you will need to open an account on Pocket are a Nigerian phone number, a Bank account, and of course, an internet connection.
Registration
When you download the Pocket app, you will enter your BVN, name, and phone number. You will also be asked about your gender, place, and date of birth. Ensure that the details you provide tallies with your BVN.
To upgrade your account to tier two, you will need to verify your location by submitting proof of address, taking a selfie, and verifying your NIN. This is in line with CBN MMO regulations.
How Does the Pocket App Work?
The Pocket App is used to send and receive money, and also manage your money since you can easily connect it to Piggyvest. These basic transactions can now occur from three wallet types, personal, business, and group pockets.
The personal pocket app is the Pocket app wallet that you can use for your basic transfers, payment of bills, etc. You can also use it to shop on the Pocket app’s market. The Business pocket is what you use when you want to create an online store to sell your product. The Group pocket allows you to collaborate with other people to manage funds. You can use a group pocket for personal savings, group contributions (Ajo), etc.
You can spend freely and pay bills easily with airtime, DSTV or GOTV, Electricity, etc. The business pocket can create a customized business account for zero charges. You will also receive your payments with 0% commission on sales. You can do this for multiple business accounts.
How to Shop on The Pocket App?
To shop on the PocketApp by PiggyVest, simply click on the search icon at the bottom of the application. Once you enter the product name of what you want to buy, you will see all available items and their prices. You can also click on the vendor’s name to see more available products.
When you make payment for the product of your choice, the money will be deposited in an escrow. This means the seller won’t receive the money until you receive the money. The cost of shipping varies according to your location.
My Pocket App Experience
PocketApp by PiggyVest is a really good platform though I believe they can still work on the design of the application. The onboarding was smooth too but the time OTP takes is quite slow. However, if you use your WhatsApp number to register, you will receive the OTP to your WhatsApp from Flutterwave almost instantly.
There’s also no cashback or refer-and-win bonus like most other apps do. PocketApp by PiggyVest also gives both physical cards for local transactions and virtual cards for international transactions. They give verve cards, unlike other mobile money operators in Nigeria that give a Visa card.
When I tried shopping for a product, I also noticed that there wasn’t a way I could filter the result. Once you insert a product name, it just brings up all available results, both from near and far locations, with different pricing.
Overall, I’ll give the PocketApp by PiggyVest a rating of 7/10.
What people are saying about PocketApp by Piggyvest?
On the Google Play Store, there are over one million downloads with a 4.4 out of 5-star feedback.
There is also a 4.7 out of 5 star of over 6700 reviews from the iOS users.
Bottom Line
Having mentioned what the PocketApp by PiggyVest is, and the pros and cons, you are more informed about what to use the app for. Entrepreneurs can find the app more useful than just sending and receiving money.
The PocketApp by PiggyVest is packed with amazing features like selling your products with zero commission on sales. You can also have a group of 2 upward in managing your funds together. This can be to save towards a common goal or other personal purposes.
You can also check out other mobile money operators in Nigeria like Paga, NowNow, Firstmonie, Kegow, Parkway, and Fortis Mobile Money.
Frequently Asked Questions
Is PocketApp the same as PiggyVest?
PocketApp by PiggyVest is a product owned by Piggyvest and not the same as PiggyVest. As explained earlier, the PocketApp by PiggyVest is a CBN-licensed Mobile Money Operator (MMO) in Nigeria.
How to withdraw money from PocketApp?
To withdraw money from PocketApp is easy, just click ‘Send Money’ on the Home page and follow the prompts. You can withdraw into another PocketApp account, a Bank account, or through a merchant.
How can I contact the PocketApp customer service?
You can reach out to PocketApp customer care by calling them at +234700933933933 or you can email them via hello@pocketapp.com. you can them a visit at Tesmot house, Abdulrahman Okene close, Victoria Island, Lagos, Nigeria.
