Paga is fully integrated to Nigeria’s Banking System

‪When Paga launched to the public the only way to fund an account was either at a Paga agent or by visiting a bank branch to deposit to our bank account (or transferring to our bank account). If you used the second approach you had to notify us on our site. Two members of our team had to verify your deposit before we gave you electronic value. We termed this process “manual deposit”. We had 20 staff to make this manual deposit process work! It took us about 2hrs on average to process any deposit. Sometimes the banks didn’t post immediately, sometimes they didn’t post till the evening – we could ONLY give value when we saw money in our account. Other times we just had a major backlog. Either way we had irate customers, and understandably so.

I remember exactly where I was when the idea for the manual deposit process came to me. It was genius, or so I thought. The process was painful and caused so many customer service issues! But, it was the only way to drive growth given the lack of connectivity to the banks in Nigeria.

We had a strong drive to move off this process and kept working at it. We integrated directly to 6 banks (including all major banks). Automating those banks helped us dramatically as our agents now had a way to fund their accounts instantly.

Today, Paga is now connected to all banks in Nigeria. You can transfer money to your Paga account instantly, using your Paga 10 digit account number, from any bank in Nigeria. You can also transfer from Paga to any bank account in Nigeria instantly. This is a core foundation for the future.

Transferring to Paga from any bank account is EXACTLY like your usual bank to bank transfer!

As of June 2017, 96% of deposits into Paga were automated. This is a long way from where we started. On Oct 1st we are ending manual deposits!! 🙌🏾🙌🏾

Excited to see we are now ending what was once a genius idea!! #JustPagait #makinglifepossible