The founder and group CEO of Paga, Tayo Oviosu, has stated that his payment company will take up unresolved issues for former PayPal users on behalf of the global payment giant. In a memo seen by Condia, Oviosu alluded to PayPal’s history of unresolved issues as proof of the slippery slope payment companies face in balancing security and access. “We are working with the PayPal team to actively support users who have unresolved issues,” Oviosu said. “If you are fully verified on Paga KYC level 3, you can reach out to us at Paypalhelp@paga.com with details of your case, and your issues will be reviewed diligently,” he added. The founder also cleared the air on what Nigerians can expect from Paga’s new partnership with PayPal, stressing that it is primarily about customers, and not anything else. He argued that besides providing a smooth experience and easier access for people looking to move their money, PayPal remains the largest payment ecosystem in the world, and the opportunities available to Nigerians through the partnership are endless. Oviosu explained that the weight of the partnership stems from what Nigerians stand to benefit giving PayPal’s status in the global payment ecosystem. “Freelancers can get paid, families can send support, and businesses can participate more fully in global commerce without workarounds,” he added. New partnership already beating target In a recent Interview with CNBC, Oviosu disclosed that the uptick in the new PayPal-Paga partnership has been impressive and is already exceeding the targets set by both companies. He stated that success for the partnership would mean reintroducing Nigerians fully to the global digital economy, leveraging PayPal’s vast network and Paga’s local infrastructure. According to Oviosu, the partners expect the greatest impact to be on Nigeria’s gig economy and on merchants selling to a global audience. PayPal’s strong brand equity and trust amongst its global users will erode the usual scepticism and concerns among foreign clients about doing business with Nigerians online. Oviosu disclosed that the payment setup, powered by both companies, will require all means of identification, including NIN, BVN, and the usual KYC process. This will be complemented by a transaction-monitoring system to keep bad actors out. Many Nigerians have questioned the timing of PayPal’s decision to re-enter the Nigerian market. However, excerpts from Paga’s founder confirm that despite the backlash and noise from PayPal’s critics, demand for the service remains high, as evidenced by the number of people who have signed up since the announcement.
