Paga Records Over 400,000 Mobile Payment Transactions Worth N4.5 Billion In September

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Paga is the fastest growing mobile payment service in Africa/Nigeria. Acoording to Techloy, Paga recorded over 400,000 transactions which are worth "N4.5 billion" during "the month of September 2013 alone", the company’s CEO Tayo Oviosu has revealed.
According to Oviosu, the company which now has close to 1 million registered users, added 62,257 new users during September alone (about 2,000 users per day) and ended the month with a total of 877,331 registered users.
Well we know the total number of registered users are close to a million, but are this total number active on a monthly basis and Paga or what percent is active. That we don't know because Paga does not reveal such information to the public for competitive reasons has declined to reveal this information. But we believe the figure is quite impressive.
Accoring to Techloy, in August, Paga reportedly made 429,467 transactions (approximately about 6,000 transactions more than in September) that are worth N4.6 billion, representing a 46% market share of the growing mobile payments industry which recorded N10.1 billion in mobile payment transactions as of August 2013, according to the deputy governor of the Central Bank of Nigeria, Tunde Lemo.
It has definitely been a successful year, by all measures for Paga. Paga officially which officially launched its commercial and marketing operations in September 2011 witnessed a 790% growth in its first year of operations in terms of registered users.
Paga now boasts over 350 businesses registered to use its platform to collect payments and over 3,300 agents across the country.
There are a couple of mobile payment services in Nigeria that compete with Paga. Just to list a few:
1. Vitalpay
2. Mobifinng
3. Pocketmoni
4. Quickteller


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