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Pagatech to roll out mobile money transfer nationwide by 2015

By on September 13, 2011

Pagatech Limited, one of the operators issued full operating licence by the Central Bank of Nigeria recently, said it was poised to roll out secure money transfer services to Nigerians with a target to develop 30, 000 agents nationwide by 2015.

Pagatech is a company that will enable Nigerians to transfer money to anyone via their mobile phone or Internet-connected device, or by visiting any retail agent in Paga’s nationwide network.
The company founded in 2009, is a home-grown money transfer service with a mission to deliver innovative and universal access to financial services for all Africans.

According to the company, given the strong backing of investors and with strategic relationships across industry sectors in Nigeria, it would expand operations nationwide and ‘fundamentally change the way Nigerians think about moving cash.’
Founder and Chief Executive Officer of Pagatech, Mr. Tayo Oviosu, revealed that simplicity is the great innovation of the company.

“Pagatech is the simplest way for Nigerians to transfer money to anyone in any part of the country. You no longer need to travel with large sums, or give bus driver money to deliver to your family in rural areas .With Pagatech, one can simply go to any of our agents to either transfer money or do so by oneself using mobile phone or any Internet enabled device.”

The CEO also listed short messaging services (SMS), online, agents, mobile applications, interactive voice response (IVR) and unstructured supplementary data (USSD) as channels that the company would leverage on to make their services readily available.
Mr. Jay Alabraba, who is the co-founder and director of sales and business development, Pagatech, noted that the company worked in partnership with select banks, microfinance institutions and all mobile network operators in Nigeria. Adding that Pagatech will have customer care stores and experience centre that will not conflict with agents.

“We aim to have, at least, one Pagatech agent in every community and on every street corner in Nigeria and we are making great progress in building this robust network of agents,” he said, hinting that during the pilot period alone, over 250 retailers registered and were fully trained to become Paga agents.
He said the company currently has in excess of 4,000 qualified outlets in the immediate pipeline to start operations as it continues its nationwide expansion.

Pagatech’s Chief Technical Officer, Mr. Eric Chijioke, said Pagatech mobile money transfer platform had been built, using secure technology that fit into the lifestyle of Nigerians.
Today, many Nigerians use informal methods to transfer money to friends and family. This method presents several risks and often money is lost along the way. Pagatech will leverages the rapid penetration of mobile phones and the improved supporting infrastructure to deliver its service.

Speaking about his personal investment in Pagatech, Mr. Tim Draper, said “The world is going mobile and Africa is leading the way in terms of growth rates,” adding that an open platform such as Paga has the potential to simplify life for millions of people.
Pagatech was first launched in September 2009, to a close user group. Currently has 16,227 users, 250 agents, over 18, 000 transactions and over N100 million in transaction volume.

Sun

One Comment

  1. Ayinla1979

    September 19, 2011 at 11:45 am

    pagatech is a company to trust and depend on.