Eight years ago, Tayo Oviosu founded Paga, which has grown to be Nigeria’s leading mobile payment. It all started from the frustration of carrying cash around and seeking for an easier way to spend without going about with cash or compelled to use ATM cards even when it wasn’t convenient.
Paga seeks two things:
- To create an easier option to help people pay and get paid, as an individual or a business; banked or unbanked
- To deliver financial services to the mass market
Since its inception in 2009, Paga boasts to still carry out its vision to transform lives by delivering innovative and universal access to financial services.
About the Founder
With a Bachelors of Science degree in Electrical Electronics, cum laude, from the University of Southern California, and a Masters in Business Administration from the Graduate School of Business, Stanford University, Tayo Oviosu is gradually playing his part in making Nigeria the giant of Africa.
In an interview with Techpoint.ng, Tayo narrates how he got fired from the first job he got barely three months after college. This was after he had worked and paid his way through college to bag his bachelor’s degree. Despite the disappointment from getting fired, Tayo never relented and continued to strive to become better while he picked lessons from the experience. With over 12 years work experience, He was able to push creativity with passion and birth Paga.
How Paga Works
Paga is simply a money transfer service that allows users use their mobile phones to make payment and be paid anytime and anywhere in Nigeria. You can pay bills, buy airtime or deposit into the bank with this service.
- Simply log on to www.mypaga.com to create a paga account and get started
- Send as little as N500 to 1 million, to anyone, using their phone number, which will then be collected at any paga Agent or ATM without the need for a card
- You can search for agents around you by using the “find an agent” directory
- You can access Paga via *242# on your mobile. Just dial and follow the instructions
- For easy access, the mobile app for Android is available. You can get it via this link
How to Receive Money via Paga Outside Nigeria
Yes, Paga isn’t limited to just Nigeria. If you are abroad and will like to receive money from Nigeria, simply follow these steps:
- Provide your sender with your valid mobile number or bank details
- Request that your sender goes to any of Paga’s International Remittance Partner’s outlet or website and selects Paga to send the funds
- Receive funds instantly in your Paga account or directly in your bank account
Remittance partners include Western Union, Money Trans, Terra, Money Globe, MFS Africa, FGC and USA Concierge. The service is currently available in USA, UK, France, Germany, Belgium, Spain, Italy, and Senegal, with more countries coming soon.
What is the Paga Agent Network all about?
The Paga Agent Network was built to help retail entrepreneurs and SMEs grow their businesses and also earn commissions alongside. High transacting agents have the tendency to earn above N300,000 monthly.
This network periodically rewards the best transacting agents with life-changing offers, and agents also get access to loyalty benefits, affordable branding, a dedicated customer service channel and easy technology enabled platforms for quick transactions. Paga boasts of this network being the strongest and trusted financial agent network in Nigeria.
You can also be one of their agents, by simply registering to be a part.
Highlights of Paga
- In less than a year after launching the service to the public, it accumulated over 32,000 active users
- In November 2011, Paga received its full operating license from the Central Bank of Nigeria (CBN).
- Paga’s website currently records over 8.4 million users, 15,400+ agents and over 6000 businesses across the nation.
- Paga is now in 35 states in Nigeria, which is literally the whole nation
How Paga is Playing its Role in Making Africa Great
Paga is undoubtedly contributing to the Nigerian economy and despite the current economic situation that also affected them, they’ve been able to still strive in business. The Agent Network also encourages Nigerians in SME and retail businesses, a sector that doesn’t get enough recognition and strives to succeed.
In addition to this, Paga is gradually doing what many banks have been unable to. Paga brought a solution to a problem no one really considered important. Now, even Nigerians without a bank account can move around cashless and those with bank accounts can worry less about dysfunctional or unavailable ATMs.
Paga seems ready to give all Fintech Companies in Nigeria a run, and we are here for it!