Paga, a Nigerian mobile payments and financial services company, has partnered with the Bank of Abyssinia and received regulatory approval from Ethiopia’s National Bank to launch an online payment gateway.
Paga, which was founded in 2009, provides Nigerians safe and convenient payment options by allowing money to be sent to any phone number, which the beneficiary may then redeem at a Paga agent or at an ATM via a cardless withdrawal.
Paga will support Ethiopia’s digital economy by enabling sellers to pay and be paid conveniently online using its online payment gateway and other features. To provide world-class online payment services, Paga will leverage on its experience and international partnerships.
“Ethiopia is on the cusp of a digital transformation. Paga has a long history working in Ethiopia, and we are very excited for this next phase of our involvement in Ethiopia, where we can provide innovative payment and financial services to the market,” said Adam Abate, CEO of Paga Ethiopia.
“We are equally excited to be partnering with the Bank of Abyssinia, which has demonstrated its commitment to and capabilities in driving Ethiopia’s digital economy forward. Combined with Paga’s innovation and technology, we believe our offering will be very exciting for Ethiopian consumers and businesses.”