Mobile Payment Nigeria: Paga Hits One Million Registered Users

Fastest growing mobile payment service in Africa, Paga recorded one million registered users on Monday (18th November) after about two years of launching its commercial operations in Nigeria. The service, which recorded over 400,000 transactions that are worth N4.5 billion during the month of September 2013 alone, according to the company’s CEO Tayo Oviosu, reportedly adds about 2,000 users per day.

 
The service which officially launched its commercial and marketing operations in September 2011 witnessed a 790% growth in its first year of operations in terms of registered users. While the service (Paga) has witnessed tremendous growth in the past year, it has just under 350,000 users are active on a monthly basis.

 
In August 2013, Paga reportedly made 429,467 transactions that were worth N4.6 billion, which represented a 46% market share of the growing mobile payments industry which is worth N10.1 billion as of August 2013, according to the Central Bank of Nigeria.

About Paga

Paga was founded early 2009 on the simple belief that the ubiquity of mobile phones can be leveraged to bring financial services to all Africans. Paga works on the most basic SMS enabled phone and on all mobile networks so customers have the liberty to have their Paga account available at their finger tips regardless of what phone or network they are using.

 
Paga’s core offering is a money transfer service − with Paga you can send money to anyone with a mobile phone. You can either use Paga by yourself (if you own a Paga account) or by going to any Paga Agent. It also offer several other products such as: buying/sending airtime credits, bill payments, and retail payments. For ultimate convenience we provide several channels for consumers to use Paga – SMS, Online, a mobile application, USSD, or IVR (automated line).

 
Paga Merchant Services allows businesses to collect payment from all spectrums of the population – whether banked or not. By leveraging the Paga e-widget, businesses can integrate a world class online checkout process on their own websites. Businesses can also leverage our agent network to collect payment for goods and services or provide customers the convenience of paying via SMS or online at Paga’s customer portal.

 
News Source: TechLoy

Originally posted 2013-11-19 22:08:09.