Paga targets 1bn persons to access money globally through platform

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By Princewill Ekwujuru

Paga, an emerging markets payment company said it is targeting 1billion persons to be able to   access and use money through its platform as it plans to expand to Ethiopia and Mexico.


Speaking at a   webinar Media Roundtable in Lagos, Tuesday, Paga’s Co- Founder, Jay Alabrabra, said that   there are five core values that form the guiding principles of how the company’s   business   operates   which are premised on collaboration, ownership, result   oriented, integrity and innovation   (CORII).

He stated that with Paga the company is helping to solve two key problems that exist around the world, which include eliminating the use of cash for transactions and access to financial services.

Alabrarbra who spoke on the company’s current key financial and operational metrics, said the number of the company’s mobile agents rose 11percent from 2019 to 27, 273.

He pointed out that the company’s user signup grew 700 percent quarter–in-quarter with 70 percent retention of active self transferring   individuals.

The stated further that the company increased its monthly volumes for self transferring individuals by 200 percent with increase in monthly net revenue for self transacting individuals by 354 percent.

Alabrabra noted that the company‘s sellers increased 260 percent, while beating its transaction volume and value targets three times and 35 times respectively.

  

  

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