- Paga Partners NIPOST on Financial Inclusion
As part of efforts to drive deeper financial inclusion in Nigeria, Paga and the Nigerian Postal Service (NIPOST) recently announced a partnership aimed at making financial services available to all Nigerians by leveraging on all the NIPOST offices across the country as robust financial services points. This will be done on the back of the Shared Agent Network framework approved by the Central Bank of Nigeria.
A statement explained that through the partnership with NIPOST, Paga will continue to expand its mobile money agent network to include post offices in all the local government areas of Nigeria while giving priority to areas where banking services are limited or otherwise difficult to access.
The initial set of services to be offered are deposits and withdrawals from bank accounts and mobile money wallets, utility bill payments, and airtime recharge for all telecom networks.
Additional services, including savings and loans products, are scheduled for launch in partnership with banking partners.
Speaking on the collaboration with Paga, the General Manager Financial Service, NIPOST, Mr. B.M Mukhtar said: “There is a post office location within reasonable distance of almost every community in the country today, so we see an opportunity for NIPOST to play a leading role in enhancing financial inclusion for the betterment of Nigeria. For this reason, NIPOST is committed to partnering with Paga and other financial institutions to bring critical financial services such as bill payments, bank account deposits and withdrawals, loans, money transfer and more to be available at NIPOST locations nationwide. We are taking it step-by-step and have already started to see the positive impact.”
Also speaking on the collaboration, Paga co-founder and Director of Business Development, Jay Alabraba said: “Our work with NIPOST is simply one of several big steps that we are leading the industry in taking, to bring financial services to all communities in Nigeria.
“The rollout has been on-going since the beginning of 2016, and we are very encouraged by the outcomes so far. The Central Bank provided clear guidelines for shared services such as these, and we invite banks, microfinance institutions, mobile payments providers and others to join us to reach more customers and make the scheme a success. Nigerians needs this now more than ever, so we must direct our resources wisely and make it happen.”
NIPOST and Paga joint teams work closely to ensure the commercial success of the initiative, including training and equipping of the NIPOST staff at each post office performing the transactions and other day-to-day mobile money agent operations.”
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Fintech Company, Grey, Unveils New Look to Support its Global Expansion Strategy
Grey, a leading cross-border fintech company, has embarked on a significant global brand rebranding initiative, revealing a fresh logo and website design.
This strategic move aligns with the company’s dynamic plans to expand its footprint in the global market.
The company’s transformation was unveiled on its social media platforms on Monday, November 27, 2023. Grey aims to leverage this fresh identity to reach a broader audience and solidify its international presence. The updated brand assets visually represent Grey’s commitment to innovation, excellence, and global connectivity.
The rebranding initiative follows closely on the heels of Grey celebrating a milestone achievement of surpassing 500,000 users. The company’s rapid growth and expanding user base have spurred this bold step towards rebranding, symbolizing success and underlining its dedication to remaining at the forefront of global fintech innovation. Furthermore, the previous logo was not usable in some foreign markets due to trademark conflicts with another company.
Idee Obong, The CEO and founder of Grey, shared insights into the rationale behind the rebranding, stating, “As we chart our course toward serving a global audience, we recognized the need for trademarks and related processes. We identified similarities with existing marks during this evaluation, prompting a deliberate rebrand. The new logo and website signify our forward trajectory, emphasizing global connectivity and our commitment to creating a more interconnected world. Our focus remains on being people-centric and cultivating a lasting community.”
Grey’s brand evolution is occurring at a crucial juncture for the fintech industry, which is positioned for significant opportunities despite recent economic uncertainties. The fintech sector has faced challenges in the past year; notwithstanding, Grey has rapidly scaled, adeptly responding to the heightened demand for its services.
The company has also established key partnerships across both B2B and B2C sectors across Africa over the past months, solidifying its reputation as a trusted and reliable cross-border payments company.
Femi Aghedo, Co-founder of Grey, emphasized the strategic timing of the brand evolution, stating, “The timing simply felt right to evolve our brand. Our growth and evolution as a business needed to be reflected tangibly. We are dedicated to ongoing innovation, adapting our services to meet the dynamic needs of our customers. Our core mission is to provide seamless and secure cross-border payment solutions, empowering businesses and individuals in the global economy. We eagerly anticipate the future of fintech and the opportunities it presents for us to impact the industry positively.”
Furthermore, customers can expect a more innovative and interconnected user experience when engaging on their platforms. As Grey ventures into this exciting new chapter, the team remains committed to providing cutting-edge and secure cross-border payment solutions, fostering global connectivity, and contributing to the evolving landscape of the fintech industry.
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