Nigerian Fintech firm Paga announced an agreement of a strategic partnership with Visa to facilitate more secure and faster payments. The firm offers services that help its customers transfer money, pay bills and make online purchases.
Paga customers will have access to Visa credentials (physical and virtual cards). These credentials will also be tied to their Paga accounts. Thus, it gives them the license to transact on Visa’s global network.
Paga Founder and Group CEO, Tayo Oviosu, said regarding the partnership:
“Our goals are well aligned. As we scale our wallet across emerging markets such as Nigeria, Mexico, and Ethiopia, partnering with Visa to give both consumers and businesses, who have been underserved, access to Visa’s global network made sense to us.
“Furthermore, it was clear to us in all our engagements the alignment of our goals towards solving the issues of cash, digitizing cash transactions and delivering financial services using new and innovative approaches. We are very happy to have signed a long-term relationship with Visa.”
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He also took to his Twitter page to announce the deal yesterday.
Super excited about @mypaga partnership with @Visa 🥳🥳🥳
This global collaboration will expand the range of offerings Paga delivers to consumers & merchants. It will also bring alternative payment methods for day to day transactions in all our markets!https://t.co/yCIMEoOT9f
— Tayo Oviosu (@oviosu) March 9, 2020
No financial obligations from Visa to Paga in the partnership
Visa’s Vice President and Head of Strategic Partnerships, Fintech & Ventures for Central Europe Middle East and Africa, Otto Williams, commented:
“This development ushers in a new era of speed and convenience beyond borders. It also allows us to continue working towards innovating robust platforms through which merchants using Paga’s payment collection suite can benefit from international money transfers and the growing eCommerce industry.
This development ushers in a new era of speed and convenience beyond borders. It also allows us to continue working towards innovating robust platforms through which merchants using Paga’s payment collection suite can benefit from international money transfers and the growing eCommerce industry.”
The partnership doesn’t involves funding. However, Mr Williams would not completely rule that out in the future.
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