23 October 2016
Find out more

Western Union expands mobile money service in Nigeria

17 March 2014  |  1284 views  |  0 Source: Western Union

The Western Union Company (WU), a leader in global payment services, today announced the launch of a new mobile money transfer service to Nigeria, which increases the reach of Western Union payout options in the country.

The new service to Nigeria integrates directly with Paga, the leading mobile payment platform in Nigeria, with more than 1.2 million users. Paga users now have the option of receiving a Western Union Money Transfer® transaction directly into their Paga account. Using Paga's multi-channel platform, consumers can withdraw the money by sending it to a bank account, withdrawing from an ATM, or through Paga's network of over 4,000 agents in Nigeria. Consumers can also choose to pick-up their funds at participating Western Union® Agent locations across the country.

International money transfers for mobile pick-up via Paga can be initiated at westernunion.com in more than 20 countries, or at participating Western Union Agent locations worldwide. The new offering complements Western Union services offered through its retail Agent network of more than 500,000 locations around the world, which includes 4,900 locations in Nigeria.1

According to the World Bank, Nigeria had more than US$21 billion in migrant remittance inflows during 2012, representing approximately 9% of the country's gross domestic product.2
"Western Union continues 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," said Khalid Fellahi, senior vice president and general manager, Western Union Digital. "We are very pleased to expand the reach of our digital offerings in Nigeria, and we remain committed to building our mobile network and expanding access points for Western Union services in strategic markets around the world."

Tayo Oviosu, founder and chief executive officer of Paga, added, "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 - now anyone across the globe who needs to send money to Nigeria can 'Just Paga it' through Western Union. Paga is proud to work with Western Union and we look forward to continuing to deliver innovative money movement services to Nigerians worldwide." 

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Find out moreVisit capgemini.comFind out more

Top topics

Most viewed Most shared
The bank of the future will be invisible - KPMGThe bank of the future will be invisible -...
35139 views comments | 124 tweets | 229 linkedin
New EU rules could cost UK firms £122bn in cybersecurity fines - PCI SSCNew EU rules could cost UK firms £122...
10832 views comments | 31 tweets | 37 linkedin
Barclays and Citi test blockchain tech for equity swaps processingBarclays and Citi test blockchain tech for...
8516 views comments | 26 tweets | 19 linkedin
ING takes fintech startup route to UK relaunchING takes fintech startup route to UK rela...
7025 views comments | 29 tweets | 22 linkedin
Indian banks hit by massive ATM breachIndian banks hit by massive ATM breach
6720 views comments | 16 tweets | 25 linkedin

Featured job

Find your next job