NIGERIA:Paga’s transactions hit N1.5tn in seven years

Nike Popoola

Paga, one of the mobile payments companies, says it has crossed N1.5tn in transactions since its commercial launch in August 2012.

This showed a continuous pattern of steady growth, a statement said.

Since 2012 to date, the company said it had processed 87 million transactions, valued at N1.5tn or $5.4bn, using monthly nominal exchange rates.

The Founder and Chief Executive Officer, Paga, Tayo Oviosu, said, “Reaching one trillion naira in transaction value is a major milestone for Paga. We are proud of our success in digitising cash and making it easier for people to pay and get paid.

“We are working round the clock to continue to bring innovative solutions to the mobile payments industry as we expand our range of services.”

With over 13 million users across all 36 states of Nigeria, the statement said, Paga was an omni-channel payments platform offering users a safe and convenient way to send and receive money and pay their bills.

It stated that users could access the platform on any mobile phone through its USSD code, mobile apps or website.

In addition, Paga’s innovative wallet would allow Nigerians to link multiple bank cards or their bank account, it stated.

The company said this way, customers could use Paga with money from their bank accounts.

It stated that Paga celebrated the 10th anniversary of its founding in April 2019, and announced its plans to expand its services into new global markets.