EXCLUSIVE: Paga & Twitter, Transforming Payments

– Bobby Suman, Fintech Finance

Paga, a Nigerian mobile money company that allows people to digitally send and receive money, has recently been added as a payment provider for Twitter’s ‘Tips’ feature. ‘Tips’ has been a welcomed feature on the platform already, as Paga joins other payment providers such as Cash App, Chipper, Paytm, Venmo and many more in transforming Twitter beyond a social media service. In speaking with Paga’s CEO and Founder, Tayo Oviosu, we were able to uncover just how impactful the project could be in furthering financial inclusion, and whether economic participation will exist in a hybrid environment or transition to a fully digital experience.  

How Does It Work?

Twitter users will just have to turn on ‘Tips’, which adds an icon next to their profile and has a link to Paga, making it easy for person-to-person tipping. The users will then be redirected to the Paga app to make the transfer, whilst Twitter takes no cut, merely mediating the service. 

“This was a mutual opportunity for Twitter and Paga. Paga has its largest social media following on Twitter, and the opportunity made sense for us, particularly with our goal of making payments simple for businesses and individuals”, said Oviosu. When asked about the possibility of exploring a similar type of project on other social media platforms, Oviosu commented that there is always an opportunity, “however, we must evaluate every opportunity with the lens of what makes sense for our customers.”

Furthering Financial Inclusion

It is clear that this project helps underbanked and underserved financial communities, but what have been the biggest barriers in achieving this in the first place? 

Technical challenges no doubt exist as a factor. “It’s one thing for both parties to want to work together. It’s another thing for technology to make it possible.” Whilst Paga and Twitter worked tirelessly to ensure the feature performed the way it should, this might not be the case for other forms of technology. 

“The Twitter ban in Nigeria was another significant barrier. If the ban hadn’t been lifted, it would have been a tall order to pull this off.” Twitter was blocked in Nigeria on June 4 2021 as the government cited “the persistent use of the platform for activities that are capable of undermining Nigeria’s corporate existence.” The ban was removed in January 2022, but the mere existence of it in the first place goes to show just how impactful the platform is.

“We’re already seeing positive feedback from consumers, which is an exciting indicator of the market being receptive to it. The Twitter team has been fantastic throughout the entire process, and we look forward to doing more together”, commented Oviosu. It’s clear the people feel satisfied with the new venture for the way it matches their payment wants and needs.

Quelling Security Fears

Those looking from afar, or those not particularly tech savvy, might question the safety and security that attaching payment efeatures to Twitter may have in place, however KYC measures have, of course, been carefully considered by Paga throughout this venture. The partnership with Twitter leverages Paga’s JustPaga.me links that every registered Paga customer gets. All Paga customers go through a KYC process during registration. Additionally, the people who tip using their bank card go through the online card security process called 3D-Secure – this is a global standard for all card schemes. 

The Inclusion Of Crypto & The Future Of Payments?

When asked about whether the ‘Tips’ feature will just be for fiat currencies in the future, or will embed crypto currencies too, Oviosu expressed how “Features similar to Tips will help drive the digital creator economy and as smartphone penetration increases we expect to see fast growth on digital payments and eventually retail crypto usage across the continent.”  

This might take some length of time though. Whilst Africa’s payment landscape is evolving very quickly, Oviosu posits that economic participation will exist in a hybrid environment with a mix between offline and online payments, since cash is still king on the continent. 

Oviosu powerfully concluded: “Our mission at Paga is to simplify payments for individuals and businesses. Via this partnership with Twitter, and Tips, we create an effective way for creators to get paid into their Paga accounts, directly from Twitter. As an avid Twitter user, I’m thrilled about this partnership.”

“Creators are a key demographic we are building for at Paga, and this partnership allows us to enable them to effectively monetise their work. We are really excited about solving payments in the most innovative ways, especially with companies such as Twitter.”