Paga rolls out US‑based digital bank accounts for African diaspora

Core Insights - Paga Group has launched a US-based digital banking service aimed at Africans living in the US, starting with Nigerians as the initial target market [1][3] - The service allows customers to open a US bank account using only a valid ID and a US residential address, in collaboration with a US-regulated bank [1][5] - The product is positioned as a banking and payments solution rather than a remittance tool, catering to users who maintain financial ties between the US and their home countries [3] Product Features - The accounts come with physical and virtual Visa debit cards and support for Apple Pay, Google Pay, and Plaid, allowing connections to third-party applications like Robinhood and Venmo [2] - Users can transfer funds to US and Nigerian bank accounts, with plans to expand to additional countries in the future [2] Market Context - Paga aims to address the barriers faced by millions of Africans abroad in accessing basic financial services, highlighting that over 4.5 million African immigrants in the US encounter a system not designed for their needs [4] - The service is described as simple, inclusive, and designed for real-life needs, with the goal of empowering the African diaspora and laying the groundwork for borderless banking [5]