This April, we’re celebrating our 8th Anniversary

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This month, Paga is celebrating her 8th anniversary as a pioneering payments and Digital Financial Services company. We thank our customers, team members and partners for their contributions to our continued success.

In 2009, Paga set out with a mission to deliver innovative and universal access to financial services for individuals and businesses across Africa. After getting her full operating license from the Central Bank of Nigeria in November 2011, Paga has been working to make that mission a reality by building a nationwide network of agents, innovating new services, product categories and evolving into the #1 payments solution for Nigerians.

Today, Paga has over 200 employees, 6 million unique customers and over 11,000 authorized agents enabling trade, business and economic growth across Nigeria. Indeed, Paga’s agent network is the largest and most active network of financial services access points in Nigeria. Individuals, banked or unbanked, can also use Paga to send money to anyone using their phone number, deposit to any bank in Nigeria, pay electricity bills, renew internet subscription, buy airtime and more. With Paga, businesses can conveniently collect payments from anyone online, in-store, at a Paga agent, or at any bank branch. Businesses can also use Paga Bulk Pay service to disburse funds to anyone.

Paga launched commercial operations in 2011 and since then we have processed over 31 million transactions worth more than N412 billion.

“To this day Paga is driven by the mission to make payments easier and deliver financial services to all Nigerians. This has enabled us to constantly push new boundaries and create solutions to truly make life possible for Nigerians. We would like to thank our customers and partners for the success that Paga has achieved in the past 8 years. This milestone is evidence of our commitment to continued innovation and to the future of Digital Financial Services in Nigeria.” said Tayo Oviosu, Founder and CEO of Paga.

Paga continues to innovate and is working closely with banks and other financial institutions to introduce more services that will make it even easier for people to conveniently make payments and get access to financial services.

Introducing AKO’ – Fashion, Beauty and Lifestyle Services at your Fingertips.

Book and Relax; List and Make Money!

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Ever wished you could just pick up your phone, find a service and get a professional just at a snap?

There’s an app for that! AKO’ – The first online platform for fashion, beauty and lifestyle services.
AKO knows you already have enough to do; this is why they’re providing you with an app that lets you;

  • Connect with vendors
  • Grow your customer base
  • Pay for services conveniently

With our strong commitment to solving the complexities of payments for businesses and individuals, we’re excited to announce our partnership with AKO’. With Paga, customers and vendors can enjoy the convenience and safety of cashless payments on AKO’.

AKO’s digital landscape accommodates instant transactional relationships anytime and anywhere in Nigeria between customers in need of these services, and vendors across all spectrums of rates, experience level, location, and availability.

With its key slogan, Book and Relax; List and Make Money, AKO’s platform streamlines the process of searching, booking and paying for a Barber, a Makeup Artist, a Wardrobe stylist or any service within its scope. Thereby offering customers a wide range of choices, based on rates, geographical location, time, date preferences, and other customer applicable filters. It also gives all sorts of vendors – students, freelancers, and entrepreneurs, whom may have acquired skills through personal training or from formal institutions, a FREE platform to market themselves and get paid for their craft.

AKO’s partnership with Paga, assures vendors and customers a seamless and safe gateway of making and receiving payments for services delivered. This ensures the best customer experience for AKO’ users.

It’s Easy with AKO’

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Download the app now, find a service in the simplest way and 

For more information about AKO’, please visit www.ako.ng

 

 

Ready, Set, Weekend!

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We know you’ve had a long week, so we thought to bring you some ideas to help you unwind 😀

Is staying in the new going out? It’s January, so if that’s your current mood, we totally get it.

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With all your preferred Cable TV & Internet providers on Paga, staying in doesn’t have to be boring. Especially when paying for your subscription is as easy as 1, 2…
The best part is when you pay with Paga, you get 5% cash back off your subscription!

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Another fun thing to do at home is shop online! Would you love to get nice things with that extra cash? Mall For Africa has got you covered. Shop and pay easily with Paga!

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Well, incase you decide to go to the movies, we have a suggestion for you – watch The Wedding Party. This is the movie of the moment and of course everyone is talking about it!

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We’ve got you covered every step of the way!

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Do it all with Paga this weekend.

Head to http://www.mypaga.com, download our Android app or visit your nearest Paga agent.

Have a great weekend!

Team Paga. 

Enjoy FREE GOtv subscription with Paga

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Here’s a great opportunity to enjoy one month FREE subscription on your favorite cable TV, GOtv.

All you need do is pay your GOtv subscription with Paga every month from July 1st to the 31st of September and get one month unmatched entertainment in October for FREE.

As the Euro 2016 comes an end, GOtv will air the final matches of the tournament live on SuperSport Select 1 and the Nigerian Professional Football League will air live this month.

Continue reading “Enjoy FREE GOtv subscription with Paga”

Three things to do this weekend

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Be at The Socialiga. Watch great football and meet beautiful people at The Socialiga Match Day 2, this Sunday. It promises to be a great networking and recreational event.

Date: Sunday June 12, 2016
Venue: Children’s International School, Plot 8 Funke Zainab Usman Street, Lekki Phase 1, Lagos

There will also be lots of side attractions during the event and yes, entry is free this Sunday!

For more info about the football league, visit thesocialiga.com

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Watch Le Rendez-vous. The Euro 2016 is finally here! Catch every moment live on DSTV. Subscription expired? No worries! You can renew with Paga.

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Go to the movies. If you’ve seen the first one, then we’re sure you’d love the second. Now you see me 2 is now available at cinemas near you. It’s better when you skip the queues and buy your tickets online. Head to tripican.com and pay for your movie tickets with Paga.

Socialiga partners with Paga for payments

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With our commitment to providing e-payment solutions, Paga is pleased to announce its partnership with Nigeria’s fastest growing Social Football League, The Social Liga; a platform for young Nigerians to continue to satisfy their interest in football.

This partnership will allow Social Liga fans and members to utilize Paga’s fast and convenient services for games, events as well as for their daily transactions. Paga offers not only a fast and secure portal for bill payments; it is also a safe way to send and receive money.

The SociaLiga was established by its founding five teams; The Cubs FC, The Knights FC, The Reds FC, The Royals FC and The Saints FC, in November 2015

Speaking on the partnership, Social Liga CEO, Dimeji Williams expatiated on the organisation’s commitment…

“It is our goal to continually create avenues for the youth to socialise, network and grow through team work, innovation and adapting to the shifting needs our audience and members. This is why the partnership with Paga is particularly attractive; Paga is innovative and constantly striving to streamline and improve e-payment services. “– Dimeji Williams, The SociaLiga CEO.

Across Europe and North America, weekend leagues provide entertainment and participatory opportunities for thousands of young people and the Social Liga is an avenue to do the same in Lagos.  The Liga also organizes collaborative social events which require strategy and planning; hundreds of young people give their time offline and online to promote and bring these to fruition.

Paga is glad to be a part of this movement and looks forward to a long and fruitful partnership.

 

JIM O’NEILL, FORMER CHIEF ECONOMIST OF GOLDMAN SACHS, INVESTS IN PAGA

JIM O’NEILL, FORMER CHIEF ECONOMIST OF GOLDMAN SACHS, INVESTS IN PAGA

Lagos, April: As Paga, Nigeria’s leading Mobile Payments service celebrates its 5th anniversary, founder & CEO Tayo Oviosu made the announcement that the company had acquired a new private investor – former Chairman of Goldman Sachs Asset Management and Chief Economist, Jim O’Neill.

Jim O’Neill coined the “BRIC” acronym in 2001, which was derived from his thesis that Brazil, Russia, India and China would dominate growth in emerging markets; O’Neill first became interested in Paga when he interviewed Oviosu as part of a series on BBC radio discussing the MINT group – a new acronym O’Neill coined to represent Mexico, Indonesia, Nigeria, Turkey; the next set of countries that he believes will be the growth markets that will shape the world’s economy in the coming decades.

A firm believer in Nigeria’s potential “…to be a spectacular economic success” O’Neill is confident that the entrepreneurial abilities of the countries younger demographic will be a catalyst for growth over the next 20 years. And that indigenous start-ups, such as Paga, who are focused on a key sector – payments, will be the major drivers of growth.

On his decision to invest in Paga, O’Neill said…

“On meeting Tayo and understanding his vision for Paga it was very obvious that we both shared the belief that with the right approach Nigeria possessed the potential for huge economic growth. It is clear to me that Nigeria, Africa’s largest economy, needs payment systems that work for both businesses and individuals for her to reach her potential. Paga delivers greater convenience to businesses and individuals whether they are banked or un-banked. I have chosen to invest in Paga because the team has demonstrated their ability to execute on a bold vision that can have catalytic impact. It is an exciting time for Nigeria and I believe in Tayo and the team to achieve their bold vision to become the number one way to pay and get paid in Nigeria.”

Founded in 2009, Paga commenced operations with a mission to “Transform lives by delivering innovative and universal access to financial services”. Since receiving its full operational license from the CBN in February 2011, Paga allows businesses or individuals to send money to anyone with a phone number, send money to any bank account, pay merchants, and buy airtime. Customers can also receive Western Union remittances from anywhere in the world on their Paga account. Over 1.3 million individuals and 1,350 businesses use Paga to pay or get paid. The company currently has a network of over 4,500 agents in 29 states.

Commenting on its newest investor, Paga Founder & CEO, Tayo Oviosu said

“We are absolutely thrilled that a leading growth investor like Jim O’Neill has spotted Paga’s potential to transform the lives of millions of Nigerians by delivering the best and most convenient payment system for both businesses and individuals. Jim’s investment is a testament to the great work of our 205-person team. We are honored to have Jim as a partner and we will continue to work tirelessly until Paga is the defacto way to pay or get paid in Nigeria.”

Paga Secures New Investments to Scale Money Transfer Service Nationwide

Lagos, July 2, 2012 – Paga, Nigeria’s leading money transfer service launched in February 2011, today announced it has secured new investments from  Adlevo CapitalOmidyar NetworkAcumen FundCapricorn Investment Group, and current investors Goodwell West Africa Microfinance Development Company.

Paga’s mission is to deliver innovative and universal access to financial services for all Nigerians. The company plays a critical role in enabling a cashless Nigeria and delivering access to finance to the over 80% of Nigerians that are un-banked or under-banked.  The company uses a multi-stakeholder approach. Paga is available on all mobile networks and is delivered to customers in collaboration with strong local banks (including microfinance institutions), retailers and various other private and public sector organisations.

Paga enables any person with a mobile phone or Internet access to send cash to anyone in Nigeria, buy or send airtime credit, pay bills, pay both online and physical retail stores (without cash notes or a debit card), and perform a variety of other transactions. Individuals can also perform these transactions in their communities by visiting any agent in Paga’s growing network, comprising of more than 850 agents currently located in 19 cities.

Commenting on the purpose of the investment, Paga’s founder & CEO, Tayo Oviosu, said “The business opportunity for Paga is huge, and it follows that the capital requirement to achieve our mission is also significant. A key requirement for success in our industry is having investors who share our vision and have the financial fortitude for such an undertaking. To date, we have been funded by individual investors and Goodwell. We are humbled by the interest we continue to receive from both local and international institutional investors. This investment will enable Paga to scale our operations across Nigeria and allow us to build upon our front-runner position. We have carefully chosen our investors for their track record and the immense value they will bring towards accomplishing our mission.”

Speaking on the opportunity presented by Paga, Yemi Lalude, managing partner at Adlevo Capital, said “Nigeria is Africa’s largest consumer market and a key requirement for commerce to grow is efficient payment systems across all spectrums of society. What we like about Paga is their holistic approach to servicing merchants by providing a secure and simple solution for both banked and un-banked users to pay for goods and services. We are impressed with the calibre and accomplishments of the Paga team and proud to have led this financing round.”

Arjuna Costa, director of investments at Omidyar Network, added, “Omidyar Network is very pleased to invest in Paga. The company’s innovative mobile solutions for commerce combined with its potential to enable financial inclusion broadly could be key factors in driving large scale social impact. By replacing cash as the primary method of payment, Paga enables real-time transactions that are more accessible, transparent and inclusive. We believe Paga has the potential to rapidly scale and improve the lives of millions across Nigeria and the region.” 

Speaking further on Paga’s social impact, Jacqueline Novogratz, founder and CEO of Acumen Fund, said “We think Paga’s innovative offerings will go a long way in bringing new economic opportunities to people that have been underserved by traditional financial services.” With more than half of Nigerians living on less than $1 a day, it is critical to find ways to deliver low cost financial services to the un-banked and under-banked. Godfrey Mwindaare, the director of Acumen Fund’s West Africa office, added “The Paga team is already working to deliver on its plans for low cost savings products, micro-insurance, and other financial services through its agent network and in partnership with strong local banks. We look forward to working with Paga and the investor consortium that Paga has attracted to help the company achieve its goal of bringing financial access to 40 million Nigerians by 2015.”

Speaking on Paga’s success to date, early investor, ‘Tokunboh Ishmael, managing director of Alitheia Capital, co-manager of Goodwell West Africa Microfinance Development Company said “As the first institutional investor in Paga, Goodwell has always believed in the opportunity of a platform like Paga to foster financial inclusion in Nigeria. From the onset, Paga has continually exceeded expectations and this strengthens our confidence in Paga’s ability to achieve its goals. Paga’s success thus far has led to the quality of investors that are now joining us on this journey for the long-term.”

Elaborating on the investment, Dipender Saluja, managing director of Capricorn Investment Group, said “Our belief in the power of innovation to catalyze economic and social advancement drew us to Paga. Paga’s platform offers consumers a secure way to process financial transactions. Millions of Nigerian consumers who rely on cash can now use their mobile devices, the internet, or Paga agents to make payments and purchase goods. Paga has tremendous potential and we look forward to working with the team to build a great company.”

Speaking further on innovation, Oviosu said “Innovation is at the core of Paga. Paga is a home-grown solution that overcomes a core challenge in Nigeria – how to transfer money or pay for anything without physically carrying cash. Imagine a day you walk into your local provision store, to buy provisions for the weekend and you don’t need to carry cash, or even your wallet! Simply, all you have is money in Paga. The storeowner processes your transaction via Paga and now has his money in the bank. The opportunities abound and this is why investors have put their weight behind our team to help us achieve our mission.”

Since launching to the general public, Paga has processed over 276,000 transactions worth more than N2.6 billion. On June 4 2012, Paga achieved a major milestone and crossed 100,000 unique users. Today Paga has over 125,000 users.

Customers can use Paga directly from their mobile phones or Internet-enabled devices by visiting www.mypaga.com or a Paga agent. Recipients of money sent can simply go to any Paga agent to collect the funds and do not need to be Paga customers to do so.

Paga was advised on this investment round by international law firm Norton Rose LLP (Partner – Bayo Odubeko) and the investors were advised by Bowman Gilfillan (Partner – Lele Modise).

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