In this episode, we had Tayo Oviosu, the CEO of Paga, who broke down the business behind the fintech company.
We discussed Paga's progress over the years, from simplifying payments to digitizing cash transactions and providing financial services to everyday people.
We also talked about Paga's go-to-market strategy in Nigeria, which combines offline and online channels.
Tayo shared some interesting facts and figures about Paga, including reaching ₦1 trillion annual total processed value (TPV) for the first time in 2021, with plans to double that by 2023.
He also shared valuable lessons learned from more than a decade of running a business and building financial products.
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Timestamp
00:00 - 00:37 Intro
00:38 - 04:00 Stories from the trenches
04:01 - 05:15 Importance of good relationship with coworkers
05:16 - 08:09 What is Paga and how has it evolved over the years
08:10 - 15:00 What the first launch with Paga was like
15:01 - 17:47 How frequently Paga released products/pushed things to production
17:48 - 18:59 Building Micro-Services
19:00 - 22:55 Evolution of business model
22:56 - 28:50 Competitors and their adoption of the agency banking model
28:51 - 31:00 Processing 7 Trillion Naira in a year
31:01 - 32:45 How much margin they had to reduce for growth
32:46 - 34:38 Technology Inflection Point that unleashed the barrage of retail agency banking
34:39 - 39:11 Can the market support all the businesses that leverage retail agency banking
39:12 - 42:05 How to get started with a retail agency banking
42:06 - 42:45 Could an agency banking be built using Paga
42:46 - 44:23 Customer Acquisition Cost and agent commission
44:24 - 45:15 At what point will an idiot be able to run Paga
45:16 - 45:55 Outro