Paga, a Nigeria-based mobile payment company, has partnered with investment firm, Untapped Global, to provide financing of point-of-sale (POS) devices for small businesses and merchants in the country.
Paga’s POS devices enable merchants to accept cards, mobile payments, and other forms of digital payments, making it easy for them to get paid while enabling them to provide other value-added financial services to customers.
The financing, provided via Untapped Global, is structured to lower the overall cost of entry for merchants to acquire handheld POS terminals, with payments recovered from the revenues earned on the devices.
After a successful pilot programme, which saw 2,000 merchants provided with financed POS devices earlier this year, both companies have, according to Paga founder and Group CEO Tayo Oviosu, decided to scale their partnership.
“We are excited to scale our POS rollout programme with Untapped,” says Oviosu. “We have built the best on-ramps and off-ramps for cash in Nigeria through the Paga agent network and are further digitising merchants via our new merchant platform, Doroki.” Continue reading