Payment platform Paga has disclosed plans to move into international markets like Mexico and Ethiopia.
This was disclosed by Paga’s Co-founder & Director of Business Development, Jay Alabraba, at a webinar.
Alabraba noted that the decision to move into those markets was influenced by the size of their populations.
He added that the market structure in those countries also closely resembled that available in Nigeria, making the transition “easy to navigate”.
He stated that the move into those markets is all but complete and that there were a “few things” that needed to be put together before the transition is complete.
The payment company recorded a 700 percent quarter-on-quarter growth in the acquisition of new customers during the lockdowns.
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Alabraba disclosed that the company processes monthly transactions to the tune of $4 million.
The pandemic, according to Alabraba was a huge opportunity for growth for the company.
As people avoided physical meetings during the pandemic, the need for digital payments soared.
Alabraba explained, “The opportunity aspect kicked in very quickly. We started to see a lot more sign-ups by customers for digital payments, as people didn’t want to have to physically interact and even handle cash. It is something we have latched on and has allowed us to know our customers a lot better.”
Little Info…
Paga is a payment and mobile money platform that makes the transfer of funds easy to execute.
It was launched in 2011 in Nigeria and offers a smorgasbord of services like wire transfers, merchant services, and savings accounts.
Paga services make it possible for those who are not bank account holders to send and receive money with ease.
