Nigeria Inter-Bank Settlement Systems Plc (NIBBS) has awarded Nigeria’s FinTech company Paga highest transaction count on the Global Mobile Regulatory & Monitoring Platform in 2017. The company, which is licensed by the Central Bank of Nigeria, has won the NIBBS award three times consecutively.
Paga has been named Top Mobile Money Operator by NIBBS, an inter-bank payment company owned by all licensed banks including the Central Bank of Nigeria (CBN). NIBBS handles inter-bank payments to prevent potential bottlenecks associated with inter-bank funds transfer and settlement.
We are super chuffed today to receive an award from NIBBS, naming us the top transacting mobile money operator of 2017! This couldn't be possible without YOU! Thank you for trusting Paga with your money! We are working hard to bring you many more innovative products and services! pic.twitter.com/LXVwbzuE30
— Paga (@paga) May 25, 2018
The mobile money operator has been making steady inroads since its launch it has recorded a milestone of 8,000,000+ users at the end of 2017 and a sum total of approximately 42.7 million transactions till date, with a total value of over N660 billion. Of these numbers, in 2017, the total volume of transactions exceeded 13.5 million with a total transaction value of about N297 billion.
— Paga (@paga) May 31, 2018
Launched in 2012, mobile money operator Paga is made up of determined Africans with one goal of leveraging on the ubiquity of mobile phones to bring financial services to all Africans.
According to the CEO of Paga, Tayo Oviosu:
Since launching our service to the market in 2012, we have realized that our journey to simplifying the process of sending money to anyone, and to deliver financial services to the unbanked and under-banked is making life possible for Nigerians, every single day. We are very grateful that our platform has earned the faith and trust of the people, and we continue to be your number one platform for mobile money transfers.
Paga continues to enable customers to carry out a myriad of seamless transactions including bill payments, money transfers, and card-less cash withdrawals. The FinTech company works on the most basic SMS enabled phone and on all mobile networks so customers have the liberty to have their Paga account available at their fingertips regardless of what phone or network they use.
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