Crown Agents Bank has announced it is expanding its partnership with Paga to increase its payments reach in Nigeria, Africa’s largest economy.
The broadened partnership will see the UK-based regulated provider of wholesale FX and cross-border payment services, Crown Agents Bank, facilitate international money transfers directly into Paga mobile money wallets and Nigerian bank accounts on behalf of its international customers. The move follows on from Crown Agents Bank’s existing work with Paga in Nigeria, which enables domestic transfers for organisations with a local Nigerian presence, according to the official press release.
Recipients of remittances will be able to cash out their funds at any of Paga’s 26,068 agents in the country, or use their Paga wallets for paying bills, transferring to others, or to top-up their mobile airtime. In addition, Crown Agents Bank’s international development, remittance, and other enterprise customers will be able to use Crown Agents Bank’s integration with Paga to reach any account holder at any Nigerian bank.