Paga, a long-standing mobile payment company in Nigeria, on Thursday in Lagos revealed that it has processed over 335 million transactions worth ₦14 trillion since inception.
This was disclosed by Tayo Oviosu, founder and Chief Executive Officer of Paga, até a media parley.
“We have been around for 15 years, but there’s a huge growth and acceleration and our transactions have grown more than when we celebrated 10 years.
“Between 10 years and now, we have grown our transaction value seven times more and volume five times.”
As per Oviosu, 80 per cent of the total transactions was done in five years.
He also revealed that the firm has grown from one that had no structure to one which operates platform as a service and serves over 250 businesses, and has created 1,000 direct jobs and over 100,000 indirect jobs, which is economy empowerment for Nigeria.
“Our first market has been Nigeria, a country of over 200 million people with over 90 per cent of transactions done in cash.
“Though the company started in April 2009, we took our services to market in August 2012. It took us 25 months to get our licence from the Central Bank of Nigeria, and then another seven months to close our series A financing.
“We started just as an agent network, but now we operate three lines of business which includes consumer business with 23 million users, retail business and infrastructure which services businesses,” he added.
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