Paga Partners Worldremit to Provide International Money Transfers for Nigerians

Must Read

GTBank Extends Banking Hours Till 6pm

Guaranty Trust Bank, GTBank has announced the extension of its banking hours till 6 pm today, Monday, 20 January...

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

Top 10 Most Expensive Universities In Nigeria

For many Nigerians, high-quality higher education is a luxury. There are many private universities who are known not only...
- Advertisement -
- Advertisement -

Nigeria’s Paga has partnered Worldremit, an international digital money transfer service, to further provide international digital money transfer options for Nigerians.

This new service is expected to curtail the high cost of transferring money across borders in Africa and expands WorldRemit’s presence in Nigeria.  The remittance company already offers direct transfer to bank accounts in Nigeria and remote airtime top up.

With this partnership, Nigerians in the diaspora can now use the WorldRemit app or website to send money quickly and securely to Paga users in Nigeria.

Once received, recipients can then transfer funds from their Paga wallets to other users of Paga wallets or to their bank accounts for cash withdrawal as well as carry out other financial transactions such as payment of bills and airtime top-up.

Read:  Only a day to the 7th Remittance & Payment Expo, Lagos – Nigeria!

The introduction of international transfers to Paga mobile money accounts in Nigeria supports WorldRemit’s commitment to financial inclusion in the country, where nearly 47% of the adults are unbanked.

Choosing Paga for this partnership just seems right as the startup is the country’s widest-reaching mobile money company, with over 14,000 agents operating in nearly 36 states. And with a diaspora of 15 million Nigerians living in countries including the United States, the United Kingdom, Australia and Canada, remittances play a significant role in Nigeria’s economy.

In fact, in 2018 alone the World Bank estimates that Nigeria received $26 billion in remittances, making it the largest recipient in Africa. Hence a good ground for Worldremit’s offer.

“At Paga, we are committed to making money transfers seamless and convenient. Our partnership with WorldRemit is a further example of our commitment to making it easy to send and receive money digitally. Many Nigerians in the diaspora support members of their family living in Nigeria, and often times these family members may be depending on that stipend to survive.”

Tayo Oviosu, Founder & CEO of Paga.

This partnership is the latest by Worldremit to deepen its African operation. In January, it unveiled plans to expand deeper into Ethiopia and South Africa as it aims to have 10 million customers by next year.

TECHNEXT.NG

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

British Prime Minister, African Leaders urge Investors to accelerate Economic Role on the Continent

The UK-Africa Investment Summit, the first of its kind hosted by the UK Government, was attended by the foreign...

Headline Inflation in 2020: a cocktail of negative pressures?

After moderating to a 43-month low of 11.02%y/y in Aug-2019, the direction of the headline inflation rate turned northwards, spiking to 11.85%y/y in Nov-2019....

The Equities Market i n 2020: A return to glory?

From a glorious performance in 2017 to a sustained downward spiral in 2018 and 2019, one of the major questions from our clients, as...

Foreign exchange rate and reserves: A looming devaluation?

In 2019, Nigeria’s currency market conditions were relatively stable, thanks to CBN’s continued efforts to intervene via weekly intervention sales, which resulted in over...

MTN Foundation Donates to Orphanages and Correctional Centres across Nigeria

The MTN Foundation has donated various items to orphanages and correctional centres in Nigeria. This is in furtherance of the Foundation’s effort to make...

More Articles Like This