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Western Union Expands Mobile Money Transfer Network in Nigeria in Collaboration with Paga

New Relationship Gives More than 1.2 Million Paga Subscribers Access to Western Union Services

Lagos, Nigeria − March, 18, 2014 − The Western Union Company (NYSE: WU), a leader in global payment services, today announced the launch of a new mobile money transfer (MMT) service to Nigeria. Today's launch brings the total number of Western Union mobile money transfer deployments to 21, across 18 countries worldwide.

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

International money transfers for pick-up via Paga can be initiated at in 24 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 4900 locations in Nigeria as per network data of December, 31, 2013.

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 and 67% of total remittance inflows to the Sub-Saharan Africa region.

"Western Union continues to introduce new service offerings 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 Aida Diarra, Regional Vice President, Africa, Western Union. "We are very pleased to broaden the reach of our digital offerings and access points for consumers in Nigeria, as this supports the move towards a cashless society as per the Cashless Policy of the Central Bank of Nigeria (CBN)."

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 transfer services to Nigerians worldwide."