Digital money Transfer Company, WorldRemit and Paga Nigeria have partnered to launch international money transfers to Nigeria. Using the WorldRemit app or website, Nigerians in diaspora living in over 50 countries can now send money quickly and securely to over 11 million Paga users.
In a press statement, the company said that the new partnership considerably grows WorldRemit’s footprint in Nigeria, by expanding the company’s service offering from bank transfer and airtime top-up to include mobile money. It stated that the introduction of international transfers to mobile-to-mobile accounts in Nigeria supported WorldRemit’s commitment to financial inclusion in the country, where nearly 40 per cent of the adults are unbanked.
According to the release, WorldRemit’s mobile-first, digital model saves customers time and money as they do not have to visit a bricks and mortar agent to send money home. “International transfers to Paga mobile money wallets via WorldRemit are instant. Recipients can then transfer funds from their Paga wallets to other users of Paga wallets or bank accounts, top-up mobile airtime, and pay for bills and groceries at shops and businesses that accept Paga payments. Customers can also withdraw money as cash at Paga agent locations, perform cardless withdrawals at select ATMs or store their funds in their Paga accounts.”
Since its launch in 2009, Paga has been recognised by the World Bank and International Monetary Fund as the fastest-growing Agent Network for its role in driving financial inclusion in Nigeria. Paga is the country’s widest-reaching mobile money company, with over 14,000 agents across nearly 36 states, and is committed to making it easy for people to send and receive money digitally. Last year, after a $10 million raise, Paga announced plans to expand into new global territories and introduce new partnerships and products to the market. Speaking, chief commercial officer at WorldRemit, Tamer El-Emary said, “Paga and WorldRemit share a commitment to making life easier for Nigerians sending and receiving money. Our partnership represents a new milestone for WorldRemit as we expand our service offering in Nigeria to include mobile money, a technology that has been transformational for communities across Africa.”
He noted that “Our partnership with Paga supports financial inclusion initiatives in Nigeria by introducing a new and convenient way for people to receive money from abroad and directly into their mobile money accounts.” Founder and CEO of Paga, Tayo Oviosu, said, “At Paga, we are committed to making money transfers seamless and convenient.” He stated that “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. According to Oviosu, using WorldRemit’s website, Nigerians in the diaspora can send money home to family and friends using the mobile phone number of the recipient. money will be instantly credited to a Paga wallet for the recipient and available for immediate use on Paga. This is just one of the many ways we are making life possible for Nigerians at home and abroad.