Paga launches innovative transaction Savings Wallet
With its latest offering, the new transaction savings wallet, Paga is redefining mobile wallets and introducing a new way to think about savings accounts. The product, developed in partnership with Sankore Securities, allows you to fund your wallet and freely transact, while still earning an interest. At a competitive 4.0 percent per annum, the interest is calculated on an average daily balance and is paid monthly with no hidden fees or charges.
Presenting the product, Mr Tayo Oviosu, Paga’s Chief Executive Officer and Founder, stated: “When I started Paga in 2009, I set out to solve two problems; make it easy to send money to anyone, and deliver financial services to the unbanked/under-banked Nigerians. Since launching our service to the market in 2012 we have been on the journey to solving these problems and making life possible for all Nigerians.
“Last week we formally moved into digital financial services with our first product; a transaction savings wallet! Our goal is simple ; we want to leverage our agent network and digital platforms to deliver financial services to all Nigerians and do so in partnership with Banks and other financial institutions.” In addition to already stated benefits, the transaction savings wallet allows you to move money from your wallet to your bank of choice for free, make three free withdrawals monthly from any certified Paga Agent, and withdraw cash from available ATMs without a card, for a nominal fee.