The UK-based African fintech company Paga Group has ventured into the US market, offering digital banking services to Africa’s diaspora population.

Collaborating with a US-regulated bank, Paga has introduced a new account designed specifically for Africans living in the United States. Users can open and manage a fully regulated US bank account using only valid identification and a US residential address.

Serving the African Community in America

The initiative will first target Nigerians residing in the US as part of Paga’s broader strategy to expand its business. This move aims to eliminate financial barriers faced by millions of Africans, such as high costs, complexity, and difficulty in accessing basic financial products like bank accounts or secure currency savings.

Paga Group plans to provide an account that includes both physical and virtual Visa debit cards, potentially integrating with platforms like Apple Pay, Google Pay, and Plaid. This integration allows US Paga account holders to link third-party applications such as Robinhood and Venmo for additional financial services.

The new service is crafted specifically for banking and payments, providing a comprehensive solution beyond traditional remittance products. It will enable users from the Nigerian diaspora to use a single wallet for various needs, facilitating seamless international money transfers and local transactions.

Users of the USD account benefit from FDIC-insured current accounts, equipped with essential financial tools for everyday usage. This service is designed to be straightforward, secure, and inclusive for real-world banking requirements.