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PAGA LAUNCHES SUITE OF PAYMENT SOLUTIONS FOR BUSINESS

Lagos, Nigeria− Paga, the #1 mobile payments service in Nigeria, today formally announced the launch of its new business focused service line − Paga for Business. Suitable for large to small businesses, Paga For Business is a one−stop−shop solution for any business looking for a smart way to collect payments from its customers in person, online, or remotely from anywhere in the world. The solution also allows businesses to disburse cash to any phone number or bank account and to disburse airtime to any phone number in real−time.

In operation since 2009, Paga is an indigenous company focused on delivering efficient payment solutions to all Nigerians − individuals or businesses. The introduction of solutions aimed solely at businesses is the next step in Paga's evolution towards solving the payment challenges of Nigeria.

Co−Founder & Head of Agent Network and Business Sales at Paga, Jay Alabraba said at the launch:

"With over 5 years experience within the mobile payments market and a customer base rapidly approaching the 2 million mark, we believe that as a payments platform, Paga has already demonstrated its ability to accurately assess the payment challenges facing not just consumers but businesses nationwide; and provide innovative solutions to address them. Best of all our offering is easy to use and has zero setup costs."

The initial offerings within Paga for Business are a robust online payment gateway, "Paga e−Pay", and a web−based, real−time payment solution "Paga Bulk Pay".

Paga e−Pay allows any business selling online to accept payments from customers with a Paga account, MasterCard, Visa, or Verve. The gateway is free to setup and businesses can view their transactions in real time online.

Paga's disbursement solution, Paga Bulk Pay, allows businesses, irrespective of size to send cash to a large number of recipients anywhere in the country either to their bank account directly or to the recipients phone number. Those who receive money via their phone number can pick up at Paga agents nationwide or select ATMs without a card. The solution also allows businesses to send airtime to a large number of recipients on all mobile networks.

Speaking on the launch of Paga for Business, Founder & Paga CEO, Tayo Oviosu, said:

"As is our approach at Paga, we have created a suite of offerings by listening to our customers. To date over 3,000 businesses have already signed up for our business offerings. From global brands such as Emirates Airlines who use Paga's payment gateway to accept payments from customers purchasing a plane ticket with a debit card or Paga account, to local businesses such as FoodPro who use Paga to disburse payments to staff at their cashew processing facility in Ilorin. We will continue to build on our current offering and expect to announce additional products to our suite soon."

With the rapid growth of SME's and online commerce within the economy, Paga believes using technology to create payment solutions that are low cost, convenient for entrepreneurs and most importantly accessible for their customers is the key to boosting economic development within our emerging economy.

With its industry experience and through its in−house innovation labs "Paga labs" the company's aim is to constantly develop and deliver on new and beneficial services to both individual consumers and businesses alike. The introduction of Paga for Business can only be an added bonus to the fastest growing mobile payments company in the country.

ENDS


Note to Editors:

About Paga − www.mypaga.com

Paga was founded in early 2009 with a mission to deliver innovative and universal access to financial services in Africa. Paga received its provincial licence to operate from the Central Bank of Nigeria in November 2010 and full operating license in August 2011. Paga is underpinned by a secure payments platform that is built with the flexibility to operate in any environment and on the most basic mobile phone. To maximise the network effects critical for the long−term success of our service, Paga has taken a multi−stakeholder approach and is partnering with select banks and microfinance institutions. Paga works on all mobile networks. Customers can use Paga via multiple channels − SMS, Online, application on the phone, and our nationwide agent network. Businesses can use Paga online to collect payments and to pay anyone. The company has gone to great lengths to balance simplicity and security of its platform.

Contact: Moradeyo Adewusi −

media@pagatech.com