Paga, one of Africa’s oldest fintechs, is expanding its Direct Debit access to let businesses using Paga Engine, its payments infrastructure business, collect recurring payments from accounts outside its network.
The move is part of Paga’s strategy to expand beyond consumer payments and become a financial infrastructure provider for other businesses. In May, TechCabal reported that Paga was positioning Paga Engine to commercialise nearly two decades of payment technology it had developed to support its own operations.
The company wants businesses to use its infrastructure instead of building their own payment systems. With the Direct Debit expansion, businesses can now collect recurring payments from customers who bank with other Nigerian financial institutions.