WorldRemit has hinted of plans to extend its presence in Nigeria by joining forces with Paga, Nigeria’s mobile money company, for international digital money transfers.
Using the WorldRemit app or website, the Nigerian diaspora living in over 50 countries will soon be able to send money quickly and securely to over 11 million Paga users.
The new partnership will considerably grow WorldRemit’s footprint in Nigeria, expanding the company’s service offering from bank transfer and airtime top-up to include mobile money. The introduction of international transfers to mobile-to-mobile accounts in Nigeria supports WorldRemit’s commitment to financial inclusion in the country, where nearly 40 per cent of the adults are unbanked.
WorldRemit’s mobile-first, digital model saves customers time and money as they do not have to visit a bricks and mortar agent to send money home. International transfers to Paga mobile money wallets via WorldRemit will be instant. Recipients will then be able to transfer funds from their Paga wallets to other users of Paga wallets or bank accounts, top-up mobile airtime, and pay for bills and groceries at shops and businesses that accept Paga payments. Customers will also be able to withdraw money as cash at Paga agent locations, perform cardless withdrawals at select ATMs or store their funds in their Paga accounts.
Tamer El-Emary, Chief Commercial Officer at WorldRemit, comments: “Paga and WorldRemit share a commitment to making life easier for Nigerians sending and receiving money. Our partnership represents a new milestone for WorldRemit as we expand our service offering in Nigeria to include mobile money, a technology that has been transformational for communities across Africa.
Founder & CEO of Paga, Tayo Oviosu, said: “At Paga, we are committed to making money transfers seamless and convenient. Our partnership with WorldRemit is a further example of our commitment to making it easy to send and receive money digitally. Many Nigerians in the diaspora support members of their family living in Nigeria, and often times these family members may be depending on that stipend to survive”