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Paga targets 1bn persons to access money globally through platform

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By Princewill Ekwujuru

Paga, an emerging markets payment company said it is targeting 1 billion persons to be able to access and use money through its platform as it plans to expand to Ethiopia and Mexico.

Speaking at a webinar Media Roundtable in Lagos, Tuesday, Paga’s Co-Founder, Jay Alabraba, said that there are five core values that form the guiding principles of how the company’s business operates which are premised on collaboration, ownership, result-oriented, integrity, and innovation (CORII).

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He stated that with Paga the company is helping to solve two key problems that exist around the world, which include eliminating the use of cash for transactions and access to financial services.

Alabraba who spoke on the company’s current key financial and operational metrics said the number of the company’s mobile agents rose 11 per cent from 2019 to 27, 273.

He pointed out that the company’s user signup grew 700 per cent quarter–in-quarter with 70 percent retention of active self transferring individuals.

They stated further that the company increased its monthly volumes for self-transferring individuals by 200 per cent with an increase in monthly net revenue for self transacting individuals by 354 per cent.

Alabraba noted that the company‘s sellers increased 260 per cent, while beating its transaction volume and value targets three times and 35 times respectively.

  Vanguard News Nigeria

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