Paga Group, a UK-based African fintech company founded in 2009 by Tayo Oviosu, has expanded its services to the United States as part of its mission to eliminate the pain points Africans abroad face when sending and accessing money.
The company has consolidated three businesses under its umbrella, including Paga, its consumer digital wallet, which allows users to send money, make payments, and bank in multiple currencies, according to its website.
Paga also provides both virtual and physical debit cards accepted wherever Visa is supported, with additional features such as autopay for bills.
The group’s other businesses include Paga Engine, a B2B platform serving more than 260 companies, and Doroki, a retail and SME management platform, according to information shared with Afrotech. In 2024 alone, Paga processed 124 million transactions worth nearly $5.6 billion.
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Now expanding to U.S. soil in partnership with a U.S.-regulated bank, Paga aims to create a more streamlined cross-border financial experience between the United States and Nigeria, with future plans to expand to other countries, Afrotech reported.
“Millions of Africans abroad face unnecessary barriers to basic financial services. Opening a bank account, saving in a stable currency, or sending money home is often expensive, complicated, or out of reach. In the United States alone, over 4.5 million African immigrants navigate a system that was never designed for them. We are breaking down those barriers,” Oviosu said in a press release shared with Afrotech.
The same release noted that remittances to Nigeria reached nearly $21 billion in 2024, highlighting the vital role the African diaspora plays in driving economic growth.
“Paga’s U.S. dollar account gives users access to an FDIC-insured current account, connected to the financial tools they use every day. It is simple, inclusive, and built for real-life needs. We are putting control back in the hands of the diaspora and laying the foundation for borderless banking for Africans everywhere,” Oviosu added.
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