Visa and Nigerian mobile payment platform Paga reach partnership
According to foreign media reports, payment giant Visa has recently reached a cooperation with Nigerian fintech startup Paga. It is understood that this cooperation will be launched in terms of payment and technology. Paga users can then pay through Visa, and the two companies will also conduct a series of explorations from technical means to promote digital payment in West Africa, including Nigeria Ways of popularity.
Founded in 2009, Paga currently provides mobile payment services for local residents in West Africa through its app of the same name. According to the company, its payment network currently covers more than 14 million Nigerian users, and has cooperated with 24,000 agents to provide relevant payment support in digital transfer, bill payment, and e-commerce shopping. Based on this cooperation, Paga stated that it plans to launch payment methods such as QR code payment and NFC payment in Nigeria in the second quarter of this year.
It is worth mentioning that although the personal financial penetration in Africa is still at a relatively low level, the development trend of fintech in the region is relatively good, especially for Nigeria, the largest economy in Africa. Including some start-up companies, as well as Singapore family-owned companies and those who have cooperated with MasterCard have joined them to explore the layout.
It is shown that there are currently nearly 36 million adults in Nigeria without bank accounts, but with the gradual popularization of mobile devices and the entry of more and more fintech companies, this situation is expected to improve further.
