A Nigerian fintech firm, Paypaxe, has launched a payroll and financial management platform designed to help micro, small and medium-sized enterprises (MSMEs) streamline salary payments, statutory deductions and regulatory filings amid tighter tax enforcement.
Speaking at the company’s launch in Abuja on Sunday, Paypaxe founder, Belema Mary Maxwell, said the platform was built to address persistent challenges faced by small businesses in payroll administration and compliance.
According to her, many MSMEs still rely on manual processes, informal records or third parties to pay staff, exposing them to errors, penalties and regulatory risks. The Paypaxe payroll solution allows businesses to register their companies and employees, automate salary payments and calculate statutory deductions in line with applicable tax and labour regulations.
“With the payroll system, businesses can register their employees, automate salary payments, and ensure all deductions are properly calculated,” Maxwell said. “Once payroll is processed, the system also guides businesses through remittance, helping them meet their obligations without confusion.”
She explained that the platform integrates payroll processing with tax remittance infrastructure, enabling businesses to move seamlessly from salary payments to filing and paying statutory obligations through a single workflow, rather than navigating multiple platforms.
Beyond payroll, Maxwell said Paypaxe also tackles weak accounting and record-keeping practices common among small businesses. The platform includes enterprise resource planning tools that help users track payroll-related expenses, manage invoices, identify legitimate business costs, and maintain proper financial records supported by receipts and bank transactions.
She noted that the system was designed to reflect local business realities, including petty cash management and small-value transactions that are often poorly supported by foreign accounting software.
According to Maxwell, the payroll module will be available for business onboarding before the end of the month, while additional accounting and ERP features are expected to roll out before the end of February.
Looking ahead, she said Paypaxe plans to expand beyond payroll and accounting into long-term financial inclusion products, including mortgage financing for ordinary earners.
“For many Nigerians today, owning a home feels impossible,” she said. “At the heart of Paypaxe is the idea of building tools for everyday Nigerians who work hard and deserve access to opportunities like home ownership.”
Paypaxe, which currently operates through partnerships with licensed financial institutions, plans to obtain its own banking licence in the near term and expand into remittance services in the coming years.
On investments, the platform partners with Cordros Capital to offer regulated investment products. Speaking at the launch, the Head of Abuja and Northern Region at Cordros Capital, Fatima Daniel Okpalaji, said users would be able to invest amounts as low as N10,000 through money market instruments, offering liquidity and quick access to funds.
She said the partnership ensures investor protection while giving everyday users access to structured savings and investment options that can support long-term financial stability.
Both speakers stressed the importance of financial literacy, noting that better tools for budgeting, payroll management, and compliance can help MSMEs become more resilient, competitive, and sustainable.
