" class="no-js "lang="en-US"> Paga Powers Payments Worldwide in Collaboration with Visa
Monday, June 05, 2023

Paga Powers Payments Worldwide in Collaboration with Visa

Paga, Nigeria’s leading payments and financial services company, is delighted to announce the launch of its Visa cards. Consumers now have the option of both virtual and physical cards that give them the ability to pay at over 100m+ merchant locations where Visa is accepted globally. The cards will be available first in naira, soon to be followed by US dollar-denominated cards.

The decision to launch with a virtual naira card first is deliberate. Nigeria is Paga’s largest market, and there has been a demand for virtual cards that work effectively. As a digital financial services company, launching a digital product that meets the needs of its largest market quickly is in line with Paga’s customer-first approach.

In addition to providing consumers with more freedom and convenience when making online transactions, Paga has made its virtual cards simple and fast to activate, taking less than 20 seconds! To access the virtual cards, consumers need to update their Paga app or download it if they’re yet to. Once in the app, they’ll click on “Get Card”, and the card is ready to use in making payments online.

Paga cards are different from the cards in the market today –

They can be funded from any financial institution in real-time. Each card has its unique NUBAN number that enables interoperability with all financial institutions for real-time funding by bank transfers, deposits at bank branches or agents (not just Paga agents), and from any fintech app.

Each card has its unique JustPaga.me payment page, enabling Paga customers to send payment links to their friends or family and have the money deposited directly into their Paga card in real-time.

Customers also get real-time notifications of transactions on their card, and can freeze or unfreeze the card if needed right from the Paga app.

The launch is a major milestone for Paga. By improving the payment experiences of consumers with its cards, Paga is delivering on its mission to make it simple for one billion people to access and use money.

Paga is building an ecosystem with deep digital payments infrastructure to serve consumers. Paga currently has over 20 million customers and over 140,000 agent points across Nigeria. With its Visa cards, Paga will reach even more consumers, introducing some of them to new financial experiences.

Tayo Oviosu, Founder and CEO of Paga Group, says: “We are thrilled about the launch of our Visa-branded cards. This is a significant milestone because it aligns with our goal of making it simple for people to access and use money. Customers now have access to Visa’s global network through Paga cards. I’m really excited about how Paga cards will make life easier for our customers in Nigeria and beyond.”

The Paga Group-Visa partnership is not new; both companies have been executing on a range of areas of collaboration for merchant acceptance and issuance. On merchant acceptance, both companies collaborated on the launch of Doroki, a commerce offering for retailers launched in November 2021. Additionally, Paga recently launched its direct online card processing in collaboration with Visa’s Cybersource – bringing greater reliability of card transactions on Paga platforms by removing dependency on other card processors. The launch of the Paga card is in line with the shared vision of the two companies to reach across the African continent and widen the pool of consumers who have access to simpler payment methods and financial services.

Andrew Uaboi, Vice President and Head, Visa West Africa, says: “We believe in innovation-led collaborations, and fintechs remain core to solving the access to financial services gap in Africa. Partnerships are fundamental to our business model and this expansion of our strategic alliance with Paga is another example of how we can help our clients deliver improved customer experiences. Whether it is changing the way people invest, manage money, or sending real-time payments to friends and family, Visa is a natural partner for fintechs, providing them with new ways to reach their customers through Visa’s vast network and global scale. We are proud to partner with Paga and support their ambitions to bring more Africans into the financial system with relevant digital solutions.”

“Paga plays a critical role within the fintech ecosystem as they deliver solutions that solve customer and merchant needs. We are excited for the launch of Paga’s Visa cards that connects and their consumers and merchants to global commerce through the Visa network, with access to Visa innovation and digital experiences at the center,” Alex McCrea, Vice President, Head of Digital Partnerships, Fintech and Ventures, for Visa Central & Eastern Europe, Middle East and Africa.

United Bank for Africa is the bank sponsor for Paga cards, and transactions at the bank’s ATMs will always be free for customers.

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