Nigeria: Paga Expands Into US With Digital Banking for African Diaspora

3 October 2025
Daba Finance (Abidjan)

TLDR

  • Nigerian fintech startup Paga has entered the US market with a digital banking service targeting the African diaspora
  • Founded in 2009, Paga operates a consumer digital wallet, a B2B infrastructure platform called Paga Engine, and Doroki, a retail and SME management tool
  • The company said its new US offering, built in partnership with a regulated bank, will give Africans in the US access to international banking tailored to their needs

Nigerian fintech startup Paga has entered the US market with a digital banking service targeting the African diaspora.

Founded in 2009, Paga operates a consumer digital wallet, a B2B infrastructure platform called Paga Engine, and Doroki, a retail and SME management tool. The company said its new US offering, built in partnership with a regulated bank, will give Africans in the US access to international banking tailored to their needs.

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Through the service, customers can open and manage a US-domiciled bank account using a valid ID and residential address. The account enables savings, payments, and cross-border transfers, aiming to ease financial access for immigrants who often face high costs and limited options.

The rollout begins with Nigerians in the US, home to one of the largest African immigrant communities, and forms part of Paga's wider international expansion strategy.

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Key Takeaways

Paga's US entry highlights how African fintechs are increasingly targeting diaspora markets as a growth frontier. With more than 4.5 million African immigrants in the US, remittances and cross-border payments remain costly and fragmented, creating demand for tailored banking solutions. By offering regulated US accounts with simplified onboarding, Paga addresses a major pain point for diaspora users: the difficulty of accessing mainstream financial services while maintaining seamless ties to home markets. This strategy also broadens Paga's competitive edge against incumbents in remittances such as Western Union and MoneyGram, as well as newer digital challengers like Wise and Remitly. The move underscores a shift among African fintechs toward building global platforms that connect diaspora communities to financial ecosystems at home. If successful, Paga could extend its model to other diaspora hubs in Europe and the Middle East, reinforcing Africa's role as a testing ground for inclusive digital finance at scale.

Read the original article on Daba Finance.

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