There has been a new development in the technology scene in Nigeria and Africa as a whole.. This time, it’s from the Fintech sector of technology. The development is the partnership between Nigeria’s leading mobile financial solutions provider, Paga and another African Fintech company MFS Africa.
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The partnership between these organisations is to link Paga users and bank account holders in Nigeria to remittance senders across Africa and the entire world. The partnership for the cross-border remittance is following a similar remittance partnership Paga had with Monneytrans and Terrapay some months ago.
The partnership creates the platform for Paga users to be able to send and receive money from mobile money operators and users that are under the umbrella or in connection the MFS Africa hub.
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Jay Alabraba, co-founder and Director of Business Development of Paga stated that the partnership will create avenue for millions of mobile money transactions to take place across Africa and across the globe.
“Together with MFS Africa, Paga is linking millions of mobile wallet users and bank account holders for seamless transactions across networks and across borders,” said Alaraba.
Even the founder and CEO of MFS Africa, Dare Okoudjou expressed the ideology that some skeptics could have downplayed the progress of mobile money development in Nigeria; stating that the partnership is here to answer the critics.
“For the last few years, everyone has been looking to the Nigerian market, wondering when and how mobile money would take off,” stated Dare.
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In furtherance, he said, “We’re excited to finally welcome Nigeria onto the MFS Hub with Paga, and to connect more and more of our mobile network and money transfer operator partners to Paga’s users.”
The cost of mobile money transactions within Africa has been relatively high, however, the partnership will use its capabilities to bring down this cost.