Milestone: Paga Hits 8 Million Users, 1 Million Users Joined in 174 Days!

David Afolayan

Nigerian E-payment platform, Paga has reached a milestone of 8 million users, about 9 years since inception. This announcement was made on Facebook by the CEO, Tayo Oviosu, yesterday.

According to Tayo, it took the startup just 174 days to go from 7 million to 8 million users, as against 989 days it took to get the first 1 million users. That is a significant stride for the Fintech company.

A track of the company’s users’ growth indicates that the company had about 125,000 users in 2012. This increased to about 3 million users in June 2015. This number grew to about 5 million users as at August 2016 and to 6 million users in March 2017. This recent figure suggests an about 30% growth from Last year’s base.

This growth could perhaps be owing to the recent partnership/franchise initiatives that Paga undertook in the past year.

It could also be owing to its decision to explore some other business ventures such as partnering with the Rural Electrification Agency in Kano to provide power for over 12,000 shops in the Sabon Gari Market, one of the biggest hubs in Kano and one of the largest markets in Nigeria.

You may wonder how this benefits the startup. Here is the answer from Paga’s post:

With over 500 shops currently enjoying stable and affordable power supply during opening hours the first phase of deployment, we are seamlessly helping shop owners with easy, convenient and safe channels to make payments via Paga.

About Paga

Paga is a money transfer service that leverages the ubiquity of the mobile phone to bring great value to customers. One of its unique selling points is the capacity of the platform to enable transactions at the customers’ convenience (solving these problems the banked, the unbanked, and to other businesses).

Customers can use Paga to send money to anyone in Nigeria, either from their mobile phone, Internet-enabled device or via any Paga agent across the country. Recipients get the money instantly, and they don’t even need to have registered on the platform. Customers can also use the service to pay for a variety of goods and services at various online or offline merchants.

Recall that recently, it launched its Paga wallet for it ‘Banked’ customers to carry out seamless transactions.

Congratulations to the Paga team! They deserve it.


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