Nigeria’s leading mobile payment platform Paga collaborates with Visa to promote innovative payment solutions. Paga, a mobile platform that allows its users to transfer money electronically and payments through their mobile devices just announced their strategic collaboration with Visa which will enable faster convenient mobile payments for merchants and consumers in markets where Paga operates.
This partnership aligns with the goal of Visa which is to drive alternative payment channels within its global ecosystem which in this case is mobile wallets. This partnership with Visa is a step further in their global expansion plans, what this automatically means is that now all Paga account holders will have access to Visa physical and virtual cards tied to their Paga account which will make them have the ability to transact anywhere in the world visa card are used/accepted.
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This is not the end of this partnership as both parties are working to launch a number of innovative merchant solutions which will range from QR codes and NFC which will be for in-store merchant payments, online payments and international remittances all processed through visa’s network. Speaking on this new partnership ,Founder and Group CEO of Paga, Tayo Oviosu commented;
“We are excited to partner with Visa, a leader in payments globally, as they are constantly building world-class solutions for consumers and businesses. 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 under-served, 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.”
Traders/ Distributors who use the payment collection suite by Paga are not left out, they will also benefit out of this partnership as they will be able to accept payments that are not card used from customers of any bank around the world who offer visa’s products. This new development for them means that they will have a much improved customer experience and eventually they will record growth in their sales. Speaking on to why Visa chose this partnership with Paga, Otto Williams, Visa’s Vice President, Head of Strategic Partnerships, Fintech & Ventures for Central Europe Middle East and Africa commented;
We are excited to have Paga plug into our network, as a company we remain grounded on the principles of partnership, innovation, trust and openness. 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.
As a result of this partnership, Paga will join Visa Fintech Fast-Track Program. The Visa Fast-Track Program makes it easier for fintechs to access the global visa payments network. This is part of Visa’s global strategy to open her network and support a wide range of players emerging who are developing new commerce experience.
The fintech fast-track program provides a new commercial framework that includes eased access to Visa’s payment capabilities and streamlined processes to support companies of different sizes and at different growth phases. You can check out more information by visiting Visa fintech Fast-Track.