You may recall that the mobile payment service hit 20,000 users back in September 2011, about 6 months after it had only 500 users.
The service which officially launched its commercial and marketing operations last September has done thousands of transactions so far and processed hundreds of millions of Naira in transaction volumes to date.
Its parent company, Pagatech, was granted a license to deliver its mobile money service to Nigeria by the Central Bank of Nigeria (CBN) in December 2010.
Before then, the service had been in pilot testing mode, since late September 2010 and has allowed participants to use their cash to pay bills, purchase recharge cards, transfer money, etc via their mobile phones.
The company is currently building its agent network and a grassroots distribution network which would see it achieving 30,000 agents and 15 million active users by 2015.
Are you one of the over 200,000 paga users?