Paga Group, the UK-headquartered fintech giant known for processing over US$1 billion monthly across Africa, has announced its expansion into the United States with a digital banking product tailored to Africans living abroad.
Breaking Barriers for the Diaspora
Through a partnership with a US-regulated bank, Paga is offering a fully compliant, US-domiciled account that can be opened using just valid identification and a US residential address. The move begins with Nigerians in the US, who represent the largest African immigrant group, and forms the first step in Paga’s wider international growth strategy.
“Millions of Africans abroad face unnecessary barriers to basic financial services. Opening a bank account, saving in a stable currency, or sending money home is often expensive, complicated, or out of reach. We are breaking down those barriers,” said Tayo Oviosu, Founder and Group CEO of Paga.
More Than Remittances
Unlike traditional remittance platforms, Paga is positioning this product as a full-service banking and payments solution. The account comes with both physical and virtual Visa debit cards, integration with Apple Pay, Google Pay, and Plaid, and the ability to connect to apps like Robinhood and Venmo. Users can send money seamlessly to US and Nigerian bank accounts, with plans to expand corridors to other African markets.
This approach targets people who “live across two worlds,” particularly Nigerians who maintain strong financial ties to their home country.
Market Opportunity
The Nigerian diaspora in the US is estimated at around 760,000, including about 476,000 Nigerian-born immigrants. This community has been growing at an average annual rate of 4.8 percent since 1980, and contributed to record remittances of approximately US$21 billion sent to Nigeria in 2024, up from US$19.5 billion the year before.
By offering a regulated US dollar account with FDIC insurance, Paga is not only addressing the needs of individuals but also strengthening the economic link between the diaspora and home markets.
Laying the Foundation for Borderless Banking
“This is not just about sending money. Paga’s US dollar account gives users access to an FDIC-insured current account connected to the financial tools they use every day. It is simple, inclusive, and built for real-life needs. We are putting control back in the hands of the diaspora and laying the foundation for borderless banking for Africans everywhere,” Oviosu said.
About Paga Group
Founded in 2009, Paga Group operates three businesses: Paga, its consumer digital wallet; Paga Engine, a B2B payments infrastructure used by over 260 companies; and Doroki, a retail and SME management platform. In 2024, the company processed 124 million transactions worth ₦8.7 trillion (approximately US$5.6 billion).
This expansion into the US marks a new phase in Paga’s ambition to build the financial rails for Africa’s future. Eligible users can download the Paga app and begin onboarding immediately.
