Fastest growing mobile payment service in Africa, Paga recorded over 400,000 transactions that are worth N4.5 billion during the month of September 2013 alone, the company’s CEO Tayo Oviosu has revealed.
According to Oviosu, the company which now has close to 1 million registered users, added 62,257 new users during September alone (about 2,000 users per day) and ended the month with a total of 877,331 registered users.
However, it is uncertain how many of these registered users are active on a monthly basis and Paga has declined to reveal this information. When asked, Oviosu told TechLoy that the company does not share publicly its monthly active users for competitive reasons, but says the figure is quite impressive.
In August, Paga reportedly made 429,467 transactions (approximately about 6,000 transactions more than in September) that are worth N4.6 billion, representing a 46% market share of the growing mobile payments industry which recorded N10.1 billion in mobile payment transactions as of August 2013, according to the deputy governor of the Central Bank of Nigeria, Tunde Lemo.
No doubt, it has been another successful year, by all measures for Paga. The service which officially launched its commercial and marketing operations in September 2011 witnessed a 790% growth in its first year of operations in terms of registered users.
Paga now boasts over 350 businesses registered to use its platform to collect payments and over 3,300 agents across the country.