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事例：フィンテックサービス受容性／優位性調査①

1

PROJECT TYPE : ローカルビューリサーチ COUNTRY：ナイジェリアFlutterwave PAGA Chipper interswitch Opay Kudi

Established 2016 2009 2018 2002 2018 2017

Company Description

San Francisco and Lagos-based

fintech startup. Flutterwave provides

online platform to corporate and

private users.

A mobile money operator licensed by

the Central Bank of Nigeria. Paga’sfirst market is Nigeria, with

commercial launch August 2012.

Paga is a mobile payment platform

that allows its users to transfer

money electronically and make

payments through their mobile

devices.

The largest mobile cross-border

money transfer platform in Africa.

Chipper Cash provides free,

interoperable payments in and

between Ghana, Kenya, Uganda,

Tanzania, Rwanda and Nigeria

An Africa-focused integrated digital

payments and commerce company

that facilitates the electronic

circulation of money as well as the

exchange of value between

individuals and organisations

Nigerian payment and ride-hailing

app incubated by Norwegian internet

company Opera

A financial service provider focused

on providing access to electronic

banking and financial services.

Kudi's focus is the African market

with a primary focus on the Nigerian

Payment ecosystem

HQ Location San Francisco Lagos San Francisco Lagos Lagos Lagos

Office LocationLagos, Nairobi, Accra, and

JohannesburgLagos

San Francisco, New York, Nairobi,

Accra, KampalaLagos, Nairobi, Kampala Lagos, Beijing, Gothenburg Lagos

Representative CEO Olugbenga Agboola (aka GB) Founder& Group CEO Tayo Oviosu Co-founder & CEO Ham Serunjogi GMD / Founder Mitchell Elegbe Opera CEO Yahui Zhou Co-founder & CEO Adeyinka Adewale

Major Stockholders

Y　Combinator(US),Green Visor Capital(US), Mastercard

Acumen Fund, Adlevo Capital,

Capricorn Investment Group, EFinA

(Grant), Flourish, Global Innovation

Fund, Goodwell West Africa,

Unreasonable Capital, Jim O'Neill

(Angel Investor), Tim Drapper

(Angel Investor)

Deciens Capital, One Way Ventures,

500 Startups, Transition Level

Investments, Liquid 2 Ventures,

Brue2 Ventures

VISA, Helios Investment Partners,

TA Associates

Gaorong Capital, Source Code

Capital, Softbank Ventures Asia,

Bertelsmann Asia Investments (BAI),

Redpoint Ventures China, IDG

Capital, Sequoia Capital Cchina and

GSR Ventures

Khosla Ventures, Y Combinator,

Partech Partners

Funding Round Series A Series B Seed Corporate Round Series B Series A

N of Employees 136 (estimate) 250+ 50-200 (estimate)

N of Devlopers 1500+ 20+

Description of Service

Primarily provides B2B payments

service. In 2019, with the

partnership with VISA, the company

started personal payment service.

Offers free money transfers, deposit

to bank accounts, buying/sending of

airtime, bill payments, remittances,

bulk disbursements & collections that

are accessible via online channels

(web/app) and on any basic mobile

phone via dialing *242#. Paga has

numerous outlets across the country

where its agents act as human ATMs

Allows users connect multiple mobile

money accounts to their Chipper

Cash wallet and use Chipper to

transfer money across their various

accounts or send to someone else.

Provides the following services :

1)Payment, collections and

monitoring solutions (Paydirect,

Quickteller)

2) Funds disbursement solutions

(Autopay)

3) Retail management (Retailpay)

4) Industry Solutions

5) Hardware products

6) Consumer products (Verve,

Quickteller, and Rewards)

It is a one-stop mobile-based

platform for payment,

transportation, food and grocery

delivery and other services

Kudi provides access basic financial

services like money transfers, bill

payments and cash withdrawals

through their agent network. Kudi

enables secured financial

transactions via Facebook,

Telegram, Slack and Skype.

Essentially, Kudi is a chatbot

domiciled on Facebook Messenger,

Telegram and Skype; while chatting

with the chatbot, users can transfer

money, buy airtime, pay bills as well

as remind them when those bills are

due and keep track of account

details

N of Transaction100 M

(60M in Africa)48 Million 250,000 500 million per month

Volume of Transaction $2.6 Billion $3 Billion $5 M daily (estimate) $30 million per month

N of Partner Banks 50+ 7 All Nigerian banks 8

e.g. of Partner Banks Standard Bank、First Bank、Ecobank Access Bank, Fidelity Bank, FCMBGTBank, Access bank, UBA, Zenith

bank

Wema Bank, GTBank, Zenith bank,

UBA

e.g. of Business PartnersTransferwise、Flywire、Booking.com、JumiaPay、Uber Apposit LLC, Osprey Zenith Paystack VISA

GTBank, Fidelity bank, UBA, VISA,

MastercardPaystack

N of Supported Currencies 150+ 1 4 3 1 1

Recent Activity & News July 2019Flutterwave has partnered with

Alibaba’s Alipay to offer digitalpayments between Africa and China.

April 2019Paga Partners with WorldRemit to

Launch International Mobile Money

Transfers to Nigeria

September 2019Chipper Cash has expanded to

Nigeria. Chipper Cash will offer its

P2P payment service and app in

Africa’s most populous nation inpartnership with Paystack — thepayment gateway company

November 2019 Interswitch Limited and Visa Inc.

announced a strategic partnership

that will further advance the digital

payments ecosystem across Africa.

The partnership will create instant

acceptance network across Africa to

benefit consumers and merchants

and facilitate better connectivity for

communities

November 2019Opay has been given approval by

Nigeria's Apex Bank, Central Bank of

Nigeria (CBN) to commence

international money transfer in

Nigeria. With the Approval Opay will

start facilitating B2B, B2P and P2P

remittance services in Nigeria

March 2019Kudi raised USD 5.8 Million in a

recent round of funding from

Partech. This number is as per an

SEC filing company made on 18th

March 2019.

Collection Fee

1.4%:Credit cards, Debit cards, QR,

MM

ACH:

Deposit at Agent,Bank,Money

Transfer to Paga Customer, Airtime

Purchase, billPayments, Merchant

Payments -FREE

Money Transfer to NonPaga- N50,

N100

Withdraw at agent N80 N130

N180, 230

Withdraw to Bank Account- N50

N150

Free for end users N100 charged to payers

Money transfer is Free

Convenience fee of N100 for some

transfers and cable subscriptions

0.7% on POS withdrawal from

agents

Payout FeeNGN150: MM

NGN45: Banks

Online Check out：1%+N20Paga online customer portal: 1% +

N 20

SMS 1% + N 20

Transaction fees: 1.5%1% transaction fee for debit card

transfers to Carbon Wallets

Others

Comment

Do you know this service ? Yes Yes Yes Yes Yes Yes

Do you use this service now ? Yes No No Yes Yes No

If you do, what is the main

purpose of using this service?

I used the barter card to make

payments on various international

websites

I use the Quickteller to pay for

airtime, internet subscription and to

also pay my profeesional dues

I use the Oride to get motorbike for

transportation . I use the Owallet to

pay for these services by transferring

money from my bank account

Have you ever used this service

before ?Yes Yes No Yes Yes No

Do you know anybody using this

service around you?Yes Yes Yes Yes Yes Yes

If you do, please describe how an

why they use this service.

They used the barter card to make

payments on various websites

To accept payment from customers

for online webinair and

masterclasses

It is a service that recently started in

Nigeria. The person used it to send

money to their family in another

African country (Ghana) from Nigeria

They transfer money from their Opay

wallet to other Opay users, also use

it to get motorbike or tricycles for

transport

It was used to purchase airtime and

internet services via Facebook

What do you think of this service ?

The barter cards helps to protect

one's debit card and details from

exposure to hacking from use on

online payments. It allows one make

payment in major international

currencies just by funding it with

your local currency. The prices are a

bit steep and especially when one

needs to return unused funds from

Barter card back to Debit card.

It provides a platform for

enterpreneurs and vendors to set up

easy payment system to receive

money from their customers.

sometimes they delay in resolving

issues like when funds transfers are

not gotten by recipient

It is a service that is really needed

as it is usually difficult for Nigerians

to send money to their family in

other African countries and the

available services are very

expensive. It is relatively new in

Nigeria. The fees are affordable

compared to other means of sending

money to other African countries

It makes it easy to purchase airtime

and pay bills without going to the

bank. However the loan interest is

quite high

The service is good, their ride hailing

is affordable and cheaper than other

existing services. Fees were suddenly

introduced without informing users

for P2P fund transfer and the fees

are high compared to other

platforms.

It is easy to use for people who are

not very educated and elderly. The

chatbot understands pidgin English

(which is used mostly by people who

are not educated) Also money

transfers are free which is better

than banks. The transaction fees

when making withdrawals or

transfers with agents is very high-

higher than what obtains for other

similar platforms.

Comment

After the trial of the service,

please evaluate the following

subjects on the scale of 1 to 5

5. Excellent

4. Very Good

3. Good

2. Average

1. PoorUsability of interface 4 4 3 5 3 5Easy to understand their services 4 4 4 4 4 4Easy to register 4 4 5 5 5 5Overall quality of their services 5 3 3 4 2 4

CommentThe chatbot is easy to understand

and use even for elderly people

Use

r Exp

erience

Degre

e o

f re

cognitio

nCom

paniy

Info

rmation

Basi

cs o

f Their S

erv

ices

Serv

ice F

ee (

Nig

eria)

Company information

Service coverage

Recognition / Impression

Service fee / system

Evaluation for UI/UX

成果物①▶各サービス比較まとめ

GAの強み：ホームユーステストを行い、ローカル視点で評価

Copyright © 2019 GLOBAL ANGLE Pte. Ltd. All Rights Reserved.

事例：フィンテックサービス受容性／優位性調査②

2

PROJECT TYPE : ローカルビューリサーチ COUNTRY：ナイジェリア

成果物②▶• 各サービス提供会社概要• 主要機能• 利用の流れ