Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
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Paga is a mobile payment platform created for easy money transfers and payments using smartphones. Founded in Nigeria in 2009 by Tayo Oviosu and launched publicly in 2011, Paga serves as a digital wallet accessible to anyone with a mobile device.
Paga was established in Nigeria to address the challenge of limited access to traditional banking services, leveraging the widespread use of mobile phones across the country. By combining the strengths of both the banking and telecommunications sectors, Paga offers basic financial services through its mobile app and website.
Customers can use Paga to deposit and save money, buy mobile airtime, settle utility bills, and shop at retailers. Through a partnership with Western Union, users can also receive money transfers directly into their Paga accounts.
Paga operates through a network of outlets where agents assist customers in conducting transactions. To send money, a customer provides the recipient’s phone number to the agent, who processes the transaction using their phone and deducts the amount plus a transaction fee from the sender’s account.
Our vision for Paga over the next 5 years is to be the number one way to pay and get paid in Nigeria and make payments accessible to everyone. So no matter who you are, where you are or what kind of business you run, you can simply Paga it.
Paga’s mission is to deliver innovative and universal access to financial services to a larger segment of the Nigerian population. Paga is available on all mobile networks and is delivered to customers in collaboration with strong local banks, retailers and various other private and public sector organisations.
At Paga, we uphold five core values that guide how we work as a team, run our business, and serve our customers.
Tayo Oviosu is the founder and CEO of Paga. Before starting Paga, Tayo worked as Vice-President at Travant Capital Partners, a private equity fund in West Africa. Earlier, he was a Corporate Development Manager at Cisco Systems in San Jose, California.
Tayo’s achievements at Paga have gained global recognition. CNBC named him Entrepreneur of the Year West Africa in 2014, and in 2015, the African Leadership Network awarded Paga as the outstanding growing company of the year in Africa. Tayo is also an Endeavor Entrepreneur and a member of the Young Presidents Organization.
He is passionate about helping entrepreneurs turn their ideas into successful businesses. Tayo is actively involved as an angel investor and is a co-founder of Kairos Angels, an angel investment club.
Tayo holds a Bachelor of Science degree in Electrical Engineering, with honors, from the University of Southern California, and a Master of Business Administration from the Graduate School of Business at Stanford University.
Paga provide the following products and services:
Paga’s revenue model is primarily based on transaction fees, merchant services, agent commissions, value-added services, and interest income from float. However, the role of investors is pivotal in providing the capital required for growth, technological development, and market expansion. These investments enable Paga to build and enhance its revenue-generating capabilities, ensuring long-term financial sustainability and growth.