Paga Group, a UK-headquartered fintech giant and one of Africa’s fastest-growing companies, has announced its official expansion into the United States. The company is rolling out a digital banking service designed specifically for Africans living abroad, starting with the Nigerian diaspora in the U.S.
The service was launched in partnership with a U.S.-regulated bank, enabling Africans in America to access fully regulated banking. With just a valid form of identification and a U.S. residential address, customers can open and manage a U.S.-domiciled bank account.
Breaking Barriers for Africans Abroad
Millions of Africans in the diaspora face systemic hurdles when it comes to banking. From the high cost of sending money home to difficulties opening accounts, financial access has long been a challenge. Paga’s new offering aims to change this reality.
“In the United States alone, more than 4.5 million African immigrants struggle with a financial system that was never built for them,” said Tayo Oviosu, Founder and Group CEO of Paga. “We are breaking down those barriers and giving the diaspora control over their financial lives.”
The first rollout targets Nigerians in the U.S., a community estimated at around 760,000 people as of 2023. Of this figure, nearly 476,000 are Nigerian-born immigrants. The community’s rapid growth highlights its increasing influence in U.S. society and its impact on Nigeria’s economy.
Meeting Diaspora Needs With Modern Tools
Paga’s new U.S. dollar account offers both physical and virtual Visa debit cards. Customers can integrate their accounts with Apple Pay, Google Pay, and Plaid, which links them to popular apps like Robinhood and Venmo. They can also transfer funds seamlessly between U.S. and Nigerian bank accounts, with expansion to other countries planned soon.
This launch is not positioned as another remittance product. Instead, it is built as a full-fledged banking solution, empowering Africans abroad to participate freely in global commerce while maintaining ties to their home countries.
Driving Growth Through the Diaspora
The Nigerian diaspora remains one of the strongest contributors to Nigeria’s economy. In 2024, remittances to Nigeria reached approximately US$21 billion, a sharp rise from US$19.5 billion in 2023. These inflows not only support families but also play a major role in national economic growth.
By offering easy access to U.S. financial tools and cross-border transactions, Paga is reinforcing its mission to make financial services accessible to one billion people worldwide.
A Milestone in Africa’s Financial Future
“This U.S. dollar account is simple, inclusive, and tailored for real-life needs,” added Oviosu. “It’s FDIC-insured and gives diaspora communities the same tools they rely on daily. We are laying the foundation for borderless banking.”
Founded in 2009, Paga Group has grown into a leader in African fintech, processing over US$1 billion per month as of 2024. Its ecosystem spans consumer digital wallets, B2B payment infrastructure, and retail solutions.
With its U.S. launch, Paga has taken another bold step in building Africa’s financial future, one that bridges continents and connects communities through innovation.
