The Western Union Company, global payment service, weekend said it is collaborating with Paga, indigenous payment platform, with more than 1.3 million users to launch a new mobile money transfer (MMT) service in Nigeria, Africa’s largest economy. The launch brings the total number of Western Union mobile money transfer deployments to 21, across 18 nations globally.
The new service to Nigeria integrates directly with Paga. Upon receipt of the Money Transfer Control Number (MTCN) from the sender, Paga users now have the option of receiving a Western Union Money Transfer® directly into their Paga account. Using Paga’s multi-channel platform, customers can withdraw the money by sending it to a bank account, withdrawing from an ATM or through Paga’s vast network of over 4,400 agents nationwide.
Consumers can also choose to pick up their funds at Western Union® Agent locations across the country. International money transfers for pick-up via Paga can be initiated at westernunion.com in 24 countries, or at participating Western Union Agent locations worldwide. The new offering complements Western Union services offered through its retail agent network of more than 4,900 locations in Nigeria as per network data of December, 31, 2013.
According to the World Bank, Nigeria had more than US$21bn in migrant remittance inflows during 2012, representing approximately 9 percent of the country’s gross domestic product and 67 percent of total remittance inflows to the Sub-Saharan Africa region.
“Western Union continues to introduce new service offerings to expand its mobile footprint as part of our omni-channel strategy, which facilitates financial inclusion for consumers who may not have access to traditional banking products,” said Aida Diarra, regional vice president, Africa, Western Union.
Diarra reiterated the company’s commitment towards deepening the reach of its digital offerings and access points for consumers in Nigeria, further adding that “ this supports the move towards a cashless society as per the Cashless Policy of the Central Bank of Nigeria (CBN).” Tayo Oviosu, founder and chief executive officer of Paga, said mobile payment firm continues to execute on its strategy of simplifying payments for all Nigerians.
“Whether you are a business or an individual. This relationship extends our services to the world – now anyone across the globe who needs to send money to Nigeria can ‘Just Paga it’ through Western Union. Paga is proud to work with Western Union and we look forward to continuing to deliver innovative money transfer services to Nigerians worldwide,” he further concluded.
