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.
Thanks to all who use @mypaga – we hit 8m users this weekend!! It took us 989 days to get to our first 1m users. It took us 174 days to go from 7-8m!
— Tayo Oviosu (@oviosu) March 18, 2018
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.
Figure 8 sepe sepe, figure 8 🎶
Excited to celebrate our 8 million users!
It's been an amazing journey and we appreciate everyone who uses Paga as their preferred way to pay and get paid in Nigeria. Thank you! #JustPagait #MakingLifePossible 🎉🎉🎉 pic.twitter.com/wBuU2uCOBw
— Paga (@paga) March 19, 2018
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.
Had our @mypaga annual conference with the our top 105 agents today! Was awesome!
We spent the day planning and creating strategies together to triple the business in 2018!
Gave awards as well – top 5 won an all expenses paid trip to Dubai! others left with generators, TVs etc pic.twitter.com/S6BCptmaNV
— Tayo Oviosu (@oviosu) January 18, 2018
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.
CEO @rensourceenergy Ademola Adesina @DemmyA , MD/CE @realREANigeria Damilola Ogunbiyi & Chairman United Traders Association, Sabon Gari Market, Alh Ali Bagadaza at Rensource Energy Office during an Inspection tour of the First Phase of 500 Electrified Shops #EnergizingEconomies pic.twitter.com/7ZfLDByDeH
— REA Nigeria (@realREANigeria) February 8, 2018
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.
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.
I just published “The Paga wallet for banked Nigerians” https://t.co/3U4oTna6xL
— Tayo Oviosu (@oviosu) February 14, 2018
Congratulations to the Paga team! They deserve it.
Get the best of Africa’s daily tech to your inbox – first thing every morning.
Join the community now!