Western Union, Paga Expand Mobile Money Transfer Network in Nigeria

The Western Union Company, a leader in global payment services, on Monday announced the launch of a new mobile money transfer (MMT) service to Nigeria, which increases the reach of Western Union payout options in the country..

The new service to Nigeria integrates directly with Paga, the leading mobile payment platform in Nigeria, with more than 1.2 million users.

 Paga users now have the option of receiving a Western Union Money Transfer® transaction directly into their Paga account.

Using Paga’s multi-channel platform, customers can withdraw the money by sending it to a bank account, withdrawing from an ATM or through Paga’s network of over 4,000 agents in Nigeria.

Consumers can also choose to pick-up their funds at participating Western Union® Agent locations across the country.

International money transfers for mobile pick-up via Paga can be initiated at westernunion.com in more than 20 countries, or participating Western Union Agent locations worldwide.

The new offering complements Western Union services offered through its retail Agent network of more than 500,000 locations around the world, which includes 4,900 locations in Nigeria.1

“Western Union continues to introduce new service offerings to expand its mobile footprint as part of our omni-channel strategy, which facilitates financial inclusion for consumers who may not have access to traditional banking products,” said Aida Diarra, regional vice president, Africa, Western Union. “We are very pleased to broaden the reach of our digital offerings and access points for consumers in Nigeria, as this supports the move towards a cashless society as per the Cashless Policy of the Central Bank of Nigeria (CBN).”

Tayo Oviosu, founder and chief executive officer of Paga, added, “Paga continues to execute on its strategy of simplifying payments for all Nigerians – whether you are a business or an individual. This relationship extends our services to the world – now anyone across the globe who needs to send money to Nigeria can ‘Just Paga it’ through Western Union.  Paga is proud to work with Western Union and we look forward to continuing to deliver innovative money transfer services to Nigerians around the world.”

Western Union Company is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders.

Paga, on the other hand, was founded in early 2009 with a mission to deliver innovative and universal access to financial services in Africa.

Paga received its provincial license to operate from the Central Bank of Nigeria in November 2010 and full operating license in August 2011.

Paga is underpinned by a secure payments platform that is built with the flexibility to operate in any environment and on the most basic mobile phone.

To maximize the network effects critical for the long-term success of our service, Paga has taken a multi-stakeholder approach and is partnering with select banks and microfinance institutions. Paga works on all mobile networks.