Paga is provided by Pagatech Limited ("Pagatech" or "We"), a private limited
liability company licenced by the Central Bank of Nigeria to provide electronic payment systems
You are required to read and understand these terms, as they are a binding agreement between you and
parent or guardian.
By registering for a Paga Account or Wallet or using any of the services provided on this website, you
guidelines, policies, terms, and conditions applicable to such service, and they shall be deemed to be
"Account" or "Wallet" is an electronic
stored value account on Paga created for use by the customer or Agent. Credits, debits
and charges are applied to this Account. The Account is primarily accessed through your
mobile phone, the Paga online systems, and mobile applications.
"Agent" refers to any party or device, including
authorized Paga Agents, Merchants, ATMs, connected kiosks and bank tellers that
facilitate Paga transactions on behalf of customers.
"ATM" means automated teller machine.
"BVN" means Biometric Verification Number used by
the banking industry in Nigeria and issued by a CBN approved financial institution.
"CBN" means for the Central Bank of Nigeria
"Content" means all information whether textual,
visual, audio or otherwise, appearing on or available through the services.
"Credit" means the movement of funds into an
Account or Wallet.
"Debit" means the movement of funds out of an
Account or Wallet.
"IVR" stands for Interactive Voice Response
system, the automated phone line that allows a computer to recognize voice and keypad
"Level 1 customer" refers to a new customer who
provides the minimum requirement listed in [4.9] below and as defined in the CBN three
tier Know Your Customer (KYC) requirements, either in a self sign-up process or to a
Paga agent or authorized administrative centre.
"Level 2 customer" refers to a Paga user who has
submitted his phone number, full name, full address and a copy of a verifiable ID card
or phone number and BVN as defined in the CBN three tier KYC requirements either in a
self sign-up process or to a Paga agent or authorized administrative centre.
"Level 3 customer" refers to a Paga user who has
linked his Paga Account with his BVN or has linked his Paga Account to his bank account
with one of the banking institutions licensed by the CBN and has provided all required
KYC information as defined in the CBN three tier KYC requirements, either in a self
sign-up process or to a Paga agent or authorized administrative centre.
"Linked Bank Account/Card" refers to the bank
account or bank debit or credit card that you have linked to your Paga Account. This
allows you to carry out transactions using funds from your bank account or bank card
instead of using your Paga Account balance.
"Merchant" means any person or entity who offers
and or accepts payment for goods or services using Paga.
"Mobile Payments" describes the service or process
that allows customers to make and receive a variety of payments using their mobile
phone, among other channels. This service is available as part of Paga.
"Mobile phone" means a GSM or CDMA device, which
can make and receive telephone calls and send and receive SMS, among other communication
"NUBAN" means Nigerian Unified Banking Account
"OTP" means One Time Pin, used to authorize
transactions or processes.
"Paga" refers to the financial services products
offered by Pagatech, with a central feature being a transactional account(s) that may be
used in relation to a wide variety of services.
"PIN" means personal identification number being
the secret code you choose for secure use of (and access to) your Paga account.
"Products" refer to Paga products, including
person-to-person money transfer, bill payments, airtime top-up, Paga retail payments
services or other Merchant products and services provided through Paga.
"Registered phone number" refers to any phone
number that has been registered on Paga.
"Services" any products and services provided to
the customer as part of Paga.
"Paga Wallet" means an electronic stored value
account on Paga used to perform transactions.
"Partner Service Provider:" means any person or
entity that offer its services or products through Paga.
"Transaction Savings Wallet": An electronic stored
value savings account on Paga, used by the customer or Agent to save, earn interest and
perform typical Paga transactions. This product is provided by a partner service
"SMS" or "Short Message Service"
is a standard communication service on GSM phones, which is used to exchange short text
messages between mobile devices.
"USSD" or "Unstructured Supplementary
Service Data" is a real time messaging channel accessed from a mobile phone and
allows user to interact with Paga.
2. The Paga Offering
Paga is a service offered by Pagatech and designed to allow you
Sign up as a customer
Receiving access to our broad set of products and features within
Credit a Paga account with cash by;
depositing at our agent locations;
depositing at any of our collection banks;
transferring funds into Paga from a Linked Bank Account/Card;
receiving money into Paga from another customer.
pay or transfer money to a third party for personal reasons or as
payment for physical or virtual goods or services already received or to be received in
transfer to bank account;
transfer to a Paga Account;
receive money from another party for personal reasons or as payment
for physical or virtual goods or services;
withdraw cash at any of our Agent locations, Paga centres or ATM;
No interest will be paid on the balance in Paga Accounts or Wallets
unless you are subscribed to a product on Paga that pays interest;
Any available funds in your Paga Account or Wallet can be utilized.
However, the use of funds in your Transaction Savings Wallet will be subject to the
restrictions set out in this Term of Use or provided by the relevant Partner Service
may be carried out on Paga, including SMS; IVR; Online/Internet; Online/Mobile phone
application; USSD; Paga centres and Pagaâs Agent network.
We will endeavour to notify you of additional features that may be
offered on Paga and where necessary, the applicable means or requirements to activate
any such features.