Paga, Nigeria’s leading payments and financial services company has launched its Visa cards, giving consumers the freedom to transact via virtual and physical cards with the ability to pay at over 100m+ merchant locations wherever Visa is accepted globally.
The cards will be available first in naira, and later in US dollar-denominated cards.
Paga’s decision to launch with a virtual naira card first owes to its roots in Nigeria which is also its largest market in addition to the demand for virtual cards that work effectively.
As a digital financial services company, launching a digital product that meets the needs of its largest market quickly is in line with Paga’s customer-first approach.
In addition to providing consumers with more freedom and convenience when making online transactions, Paga has made its virtual cards simple and fast to activate, taking less than 20 seconds.
To access the virtual cards, consumers need to update their Paga app or download it if they’re yet to. Once in the app, they’ll click on “Get Card”, and the card is ready to use in making payments online.
Paga cards are marked out of the rest in the market owing to their unique NUBAN number which makes it easier to be funded by bank transfers, deposits, and from any Fintech app.
Each card has its unique JustPaga.me payment page, enabling Paga customers to send payment links to their friends or family and have the money deposited directly into their Paga card in real time.
In addition, customers also get real-time notifications of transactions on their cards and can freeze or unfreeze the card if needed right from the Paga app.
The launch is a major milestone for Paga, which is improving the payment experiences of consumers and delivering on its mission to make it simple for one billion people to access and use money.
The launch has enabled Paga to build an ecosystem with deep digital payments infrastructure to serve its over 20 million customers and over 140,000 agent points across Nigeria.
Tayo Oviosu, Founder and CEO of Paga Group, Says the company is thrilled about the launch of its Visa-branded cards.
“This is a significant milestone because it aligns with our goal of making it simple for people to access and use money. Customers now have access to Visa’s global network through Paga cards. I’m really excited about how Paga cards will make life easier for our customers in Nigeria and beyond.”
The Paga Group-Visa partnership is not new; both companies have been executing a range of areas of collaboration for merchant acceptance and issuance.
On merchant acceptance, both companies collaborated on the launch of Doroki, a commerce offering for retailers launched in November 2021.
Additionally, Paga recently launched its direct online card processing in collaboration with Visa’s Cybersource – bringing greater reliability to card transactions on Paga platforms by removing dependency on other card processors.
Thus, the launch of the Paga card is in line with the shared vision of the two companies to reach across the African continent and widen the pool of consumers who have access to simpler payment methods and financial services.
Andrew Uaboi, Vice President and Head, of Visa West Africa, says it is a belief in innovation-led collaborations, as fintech remains core to solving the access to financial services gap in Africa.
“Partnerships are fundamental to our business model and this expansion of our strategic alliance with Paga is another example of how we can help our clients deliver improved customer experiences. Whether it is changing the way people invest, manage money, or send real-time payments to friends and family, Visa is a natural partner for fintech, providing them with new ways to reach their customers through Visa’s vast network and global scale. We are proud to partner with Paga and support their ambitions to bring more Africans into the financial system with relevant digital solutions.”
Alex McCrea, Vice President, Head of Digital Partnerships, Fintech, and Ventures, for Visa Central & Eastern Europe, Middle East, and Africa says Paga plays a critical role within the fintech ecosystem as they deliver solutions that solve customer and merchant needs.
“We are excited for the launch of Paga’s Visa cards that connects their consumers and merchants to global commerce through the Visa network, with access to Visa innovation and digital experiences at the center,”
United Bank for Africa is the bank sponsor for Paga cards, and transactions at the bank’s ATMs will always be free for customers.
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