Paypaxe Launches Payroll and Financial Management Platform for Nigerian Businesses 

Photo Credit : Paypaxe

Nigerian fintech firm Paypaxe is rolling out a platform to help businesses automate salary payments, compute statutory deductions, and stay compliant with tax regulations. Founder Belema Mary Maxwell revealed that the web-based system is designed to make payroll processing straightforward, particularly for small and medium-sized enterprises (SMEs) that often rely on informal methods or bank officers, which can lead to errors and compliance risks. 

“With the payroll system, businesses can register their employees, automate salary payments, and ensure all deductions are properly calculated,” Maxwell said. 

The platform integrates with tax remittance infrastructure, enabling companies to process salaries and file statutory obligations in a single workflow, reducing confusion and administrative burden. Businesses can also track expenses, manage invoices, and maintain accurate records supported by receipts and bank transactions. 

Financial Management for Everyday Nigerians 

Beyond payroll, Paypaxe is designed to help ordinary Nigerians manage money effectively. The platform tracks income, expenses, and budgets automatically, presenting spending patterns in easy-to-read charts. This feature allows users to see clearly where their money goes, rather than sifting through long bank statements. 

Paypaxe also plans to offer long-term mortgage financing, aiming to make home ownership accessible to hardworking Nigerians. The platform intends to provide mortgage loans spanning 25 to 50 years, giving everyday Nigerians the chance to move from renting to owning a home. 

Investment Opportunities Through Paypaxe 

Through a partnership with Cordros Capital, users can start investing with as little as N10,000 in money market instruments, offering flexibility and quick access to funds. Unlike savings, investments allow money to work for users and grow over time. 

How Nigerians Can Benefit 

Businesses: Register your company and employees on Paypaxe to automate payroll, compute deductions, and file taxes seamlessly. 

Employees: Receive salaries on time and see deductions calculated accurately, improving financial transparency. 

Everyday Nigerians: Use the platform to track spending, budget better, save, and invest in money market instruments. 

Future Homeowners: Prepare to access long-term mortgage plans through Paypaxe Homes when launched. 

Conclusion 

Paypaxe combines payroll, financial management, and investment tools to empower Nigerian businesses and individuals. By simplifying payroll, improving financial literacy, and offering structured savings and mortgage solutions, the platform provides practical tools to help Nigerians manage money, invest wisely, and achieve long-term goals.