Paga partners with LISNR for contactless payments

Nigerian payment platform Paga Group partnered with the local audit firm LISNR to enable contactless ultrasonic authentication and contactless payments across Africa, according to a press release issued Tuesday, November 16 by LISNR.

The joint effort is LISNR’s first major collaboration within the FinTech space in Africa and follows on from the recently launched commercial solution,Doroki, an inventory management and payment collection system, according to the announcement.

Read more: Nigerian SMEs Benefit from Rise in Digital Payments Thanks to Untapped Global-Paga Coupling

After months of successful market testing to improve customer experience, transaction time, security, and Paga retailer integration, the ultrasonic verification tool will be used in Paga’s system to enable consumers to pay merchants and send money to each other easily, according to the ad.

Paga Group founder and CEO Tayo Oviosu said the partnership would help the company grow from its current 33,000 merchants to a goal of 120,000 merchants over the next two years.

“We are delighted to integrate LISNR into the Paga and Doroki applications. We are leveraging their technology for both person-to-business and person-to-person payments, ”said Oviosu. “It’s exciting because people can now pay at the cash register without being very close to the cash register. It also allows us to offer more interesting non-payment use cases for merchants and consumers.

LISNR, which uses ultrasound technology to provide a tool for merchants and payment providers to accept mobile payment data anytime throughout the customer experience, regardless of store, ecommerce, or scan -and-go, received an investment from Visa two years ago, according to PYMNTS.

See also: Visa invests in LISNR to drive growth in mobile payments

Paga has also partnered with Visa, according to PYMNTS. The payments platform creates Visa-branded credit cards for approximately 60 million customers, enabling transactions with any retailer around the world that accepts Visa as a method of payment.

Since the pandemic, the company has seen a dramatic increase in the number of customers and merchants switching to digital payments in Nigeria, a country previously dominated by cash. Paga co-founder Jay Alabraba told PYMNTS last year that the company saw new listings increase fivefold in the second quarter of 2020 compared to the first quarter.

Related: How the pandemic is reshaping the Nigerian digital payments landscape

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