Paypaxe, a new Nigerian financial management and payments platform, has officially launched in Abuja with a focus on helping businesses automate payroll, improve tax compliance, and strengthen record-keeping.
Speaking at the launch, Founder and CEO, Ms. Belema Mary Maxwell, said the platform was designed to help businesses — especially small and medium-sized enterprises (SMEs) — manage salary payments, statutory deductions, and regulatory filings amid tighter enforcement by authorities.
According to her, the web-based payroll system enables companies to register their businesses and employees, automate salary payments, and compute statutory deductions in line with applicable laws, eliminating manual processes that often lead to errors and compliance risks.
“Many SMEs still rely on informal methods or bank officers to pay staff, which exposes them to mistakes and penalties. With Paypaxe, payroll processing and remittances become seamless and compliant,” Maxwell said.
She explained that the platform integrates directly with tax remittance systems, allowing businesses to move from salary processing to filing and payments within a single workflow. Beyond payroll, Paypaxe also offers enterprise resource planning (ERP) tools to help businesses track expenses, manage invoices, maintain proper records, and handle petty cash — features tailored to local business realities often overlooked by foreign software.
Maxwell disclosed that the payroll module will be available for onboarding before the end of the month, while the accounting and ERP features are expected to roll out before the end of February.
Looking ahead, she revealed that Paypaxe plans to enter mortgage financing to make home ownership more accessible to everyday Nigerians, with proposed loan tenures of 25 to 50 years. “Housing should not be reserved for only the wealthy or politically connected,” she said.
Maxwell added that Paypaxe is more than a payments app, describing it as a financial management platform that helps users track income, expenses, budgets, and savings goals through automated categorisation and visual insights.
On regulation, she said the company currently operates through partnerships with licensed institutions, with plans to secure its own banking licence within a year, launch Paypaxe Homes within two years, and obtain a remittance licence within five years to serve Nigerians in the diaspora.
On investments, Paypaxe has partnered with Cordros Capital, a leading African financial services group, to provide regulated investment products on the app. Speaking at the event, Cordros’ Head of Abuja and Northern Region, Ms. Fatima Daniel Okpalaji, said users can invest from as little as ₦10,000 in money market instruments, offering liquidity and access to funds within 24 hours.
“Saving is putting money aside; investment is putting money to work. Our partnership ensures clarity, flexibility, and investor protection,” she said Credit: Vanguard.
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