By Adedapo Adesanya
Nigerian payment platform, Paga, has announced partnership with global payments technology company, Visa, in a bid to offer secure and convenient mobile payments solutions and expand its range of offerings and delivery to consumers and merchants.
The partnership, which aligns with Visa’s goal to drive alternative payment channels through mobile wallets within its global ecosystem, will see both companies improve methods for day-to-day transactions in the market.
According to a statement released on Monday (March 9) by Paga, the partnership with Visa is one step further in the company’s global expansion plans.
“Now, all Paga account holders will have access to Visa credentials (physical and virtual cards) tied to their Paga accounts and thus the ability to transact anywhere in the world Visa is accepted,” it stated.
The statement also revealed that both parties will create innovative payment solutions.
“Together, we are also working to launch a number of innovative merchant acceptance solutions which range from QR codes and NFC for in-store merchant payments, online payments, and international remittances all processed through Visa’s network.
“With this partnership, Paga is expected to launch QR codes and NFC (near-field Communication) into the Nigerian market as alternative ways of receiving payments to a debit card,“ the company noted.
Speaking on this new partnership, Mr Tayo Oviosu, founder and Group CEOof Paga noted that the partnership with Visa’s aligned with its planned growth for emerging markets.
“We are excited to partner with Visa, a leader in payments globally, as they are constantly building world-class solutions for consumers and businesses. Our goals are well aligned.
“As we scale our wallet across emerging markets such as Nigeria, Mexico, and Ethiopia, partnering with Visa to give both consumers and businesses, who have been underserved, access to Visa’s global network made sense to us.
“Furthermore, it was clear to us in all our engagements the alignment of our goals towards solving the issues of cash, digitizing cash transactions and delivering financial services using new and innovative approaches.
“We are very happy to have signed a long-term relationship with Visa,” Mr Oviosu added.
The company, which has over 10 million users on the continent, has continued to expand its network of financial services for users across Africa and with this new platform, users will be able to make payment transactions including transfer of money, payment of bills and items purchase and can be accessed through its mobile-app or its 24,840-agent network.
Speaking for Visa, Vice President, Head of Strategic Partnerships, Fintech and Ventures for Central Europe Middle East and Africa, Mr Otto Williams, noted that the Paga partnership was a step towards its principles of partnership, innovation, trust and openness.
“This development ushers in a new era of speed and convenience beyond borders. It also allows us to continue working towards innovating robust platforms through which merchants using Paga’s payment collection suite can benefit from international money transfers and the growing eCommerce industry,” he said.
As part of the partnership, Paga will join Visa Fintech Fast-Track Program which makes it easier for fintechs to access the global Visa payments network.
The program is part of Visa’s global strategy to open up her network and support a broad range of players that are developing new commerce experiences.
The fintech fast-track program provides a new commercial framework that includes eased access to Visa’s payment capabilities and streamlined processes to support companies of different sizes and at different growth phases.
Aduragbemi Omiyale