UK-headquartered fintech Paga Group has launched in the U.S., rolling out digital banking services tailored to Africans living abroad.
The move, made in partnership with a U.S.-regulated bank, allows customers to open fully regulated U.S. accounts using only a valid ID and U.S. residential address.
Why it matters
Millions of Africans in the U.S. face hurdles when opening bank accounts, accessing stable currencies, or sending money home. With over 4.5 million African immigrants in the U.S. — including about 760,000 Nigerians — Paga is targeting a fast-growing, underserved community that sent $21 billion in remittances to Nigeria in 2024.
How it works
- Customers get both physical and virtual Visa debit cards.
- Accounts integrate with Apple Pay, Google Pay, and Plaid, enabling use on apps like Robinhood and Venmo.
- Users can send money to U.S. or Nigerian bank accounts, with more countries to follow.
- Accounts are FDIC-insured, providing security and stability.
- Accounts are FDIC-insured, providing security and stability.
The big picture
Unlike traditional remittance services, Paga is positioning itself as a full banking and payments platform for Africans abroad. The initial rollout centers on Nigerians in the U.S., but the company sees this as the first step in a wider global expansion.
What they’re saying
“Millions of Africans abroad face unnecessary barriers to basic financial services. We are breaking down those barriers,” said Tayo Oviosu, Founder and CEO of Paga Group.
“Our US dollar account is simple, inclusive, and built for real-life needs. We’re putting control back in the hands of the diaspora and laying the foundation for borderless banking for Africans everywhere.”
What’s next
Paga plans to extend the service beyond Nigeria to other African diaspora groups, reinforcing its mission to make it easy for 1 billion people to access and use money.
