Western Union and Paga seal Mobile Money Transfer Deal

The Western Union Company, a global player in payment services, has partnered with Paga to introduce its new mobile money transfer service to Nigeria, the firms said in a joint statement on Sunday.

The deal brings the total number of Western Union mobile money transfer deployments to 21 across 18 countries worldwide, according to the statement.

The new service introduced to Nigeria integrates directly with Paga, a mobile payment platform in the country, with more than 1.3 million users.

Upon receipt of the Money Transfer Control Number from the sender, Paga users now have the option of receiving a Western Union Money Transfer directly into their Paga accounts, the firms explained.

Using Paga’s multi-channel platform, the statement noted that customers could withdraw the money by sending it to a bank account, and withdrawing from an ATM or through Paga’s network of over 4,400 agents nationwide.

Consumers, it added, could also choose to pick up their funds at Western Union agent locations across the country, hinting that international money transfers for pick-up via Paga could also be initiated at westernunion.com in 24 countries, or at participating Western Union agent locations worldwide.

The new offering complements Western Union services offered through its retail agents network of more than 4,900 locations in Nigeria, the statement added.

According to the World Bank, Nigeria had more than $21bn in migrant remittance inflows in 2012, representing approximately nine per cent of the country’s Gross Domestic Product and 67 per cent of total remittance inflows to the Sub-Saharan Africa region.

On the deal, the Regional Vice President, Africa, Western Union, Aida Diarra, was quoted as saying, “Western Union continues to introduce new service offerings to expand its mobile footprint as part of our omni-channel strategy, which facilitates financial inclusion for consumers who may not have access to traditional banking products.

“We are very pleased to broaden the reach of our digital offerings and access points for consumers in Nigeria, as this supports the move towards a cashless society as per the Cashless Policy of the Central Bank of Nigeria.”

To this end, the Founder and Chief Executive Officer, Paga, Mr. Tayo Oviosu,  said, “Paga continues to execute on its strategy of simplifying payments for all Nigerians – whether you are a business or an individual. This relationship extends our services to the world.”

“Paga is proud to work with Western Union and we look forward to continuing to deliver innovative money transfer services to Nigerians worldwide,” he added.

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