The word “abeg” here in Nigeria is used to plead or beg (it is just like saying “I beg”). The explanation of that word throws some light on the idea behind the “Abeg App”. The app is a peer-to-peer platform that allows its users to request and send money to other users without any extra charges (like bank charges).
There is actually more to it than just sending and receiving money from family and friends. By signing up or creating an account on this platform, you are creating a unique Abeg tag, through which people can send you money or request money from you. The said “tag” can then be used to create a community of users, similar to social media, where users can connect to one another and send money. It actually sounds like it has potential.
Basics about the App
The Abeg App was founded in the year 2019 by Dare Adekoya and a few other co-founders. According to the founders, the application is trying to mimic the popular P2P platform CashApp in making money transfer here in Nigeria faster, safer and fun.
Ever since it’s inception in the year 2019 there has been very little said about it up until recently. The app took the stage in Nigeria as the headline sponsor of the Nigerian leading reality show Big Brother Naija. That sponsorship is one of the major reasons Abeg App is on the lips of a lot of people today.
The Abeg App is available on the Google PlayStore for Android and the Apple Store for iOS.
Using The App
Sign in by adding your phone number (that has to be linked to your BVN) and your email address. A unique Abeg tag will be generated for you. This tag will be used by you to send or receive money. It is also important to add a bank card for funding your Abeg wallet and also easy withdrawal of funds.
The application interface is nice and very easy to navigate. Abeg App really took their time on the UI design. To request or send money to anyone on your contact list, the individual has to be signed up to the Abeg App with the exact number you have on them.
How To Send Money On Abeg App
To send money on the Abeg App, all you need to do is:
- Press the send button on the app interface.
- Select the phone number from your contact or enter the individual’s unique Abeg tag.
- Finally, hit Pay.
Just like that, you have successfully sent money via the app to whomever you wish to. Money can also be sent anonymously to any other user on the app.
How To Request Money On Abeg App
To request money or plead for funds from your family and friends all you need to do is:
- Press the request button on the app interface.
- Type in the amount and reason for the request.
- Press request.
• Select the user from your contact or put in the individuals unique Abeg tag.
• Finally hit pay.
To fund your wallet or withdraw money from your wallet, all you need to do is press the profile icon at the bottom right-hand corner of the screen (most keys are at the bottom of the screen), then tap on fund wallets to fund or tap on your wallet balance details to withdraw (there is a service charge attached to withdrawal).
Final thoughts on the Abeg App
The Abeg App shows promise. I also feel that it has a very long way to go if it is to level the playing field with other fintech platforms already existing in the Nigerian fintech space.
The competition in the ecosystem that the Abeg App has navigated into is really tight. They will go up against the likes of OPay, Chipper Cash, and the rest. But it can be anyone’s market. I will keep my fingers crossed and see if it will endure the test of time.
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