New Bitcoin rival? PAGA!

[Singlebyte]

So has anyone heard of Paga? (https://www.mypaga.com/)

One million users in Nigeria (seriously) are using it for mobile payments.

1)  Imagine a service that "provides you with a fast, convenient and secure way to make and receive payments," one which describes itself as "the best alternative to carrying cash, using checks or ATM cards, traveling to and from the bank, and waiting in long lines to process payments." Sounds like Bitcoin right? Nope. It's Nigerian mobile payment service Paga, which passed 1 million registered users in November.

Source:
http://www.businessinsider.com/10-financial-innovations-more-exciting-than-bitcoin-2014-1


LOL...not sure if this belongs in the ALT COIN subsection or not....lots of debate about the section being deleted.  



-Edit-
Someone needs to introduce them to Bitcoin....no reason for another alt coin.  (Pun Intended)

[acoindr]

The article mentions Ripple. Does anyone know how many ripple currency units there are? My understanding is there is no way to check? Could be zillions I guess.

[ArticMine]

There is just one little detail. Services such as Paga or M-Pesa or their "First World" equivalents such as Dwolla or Interac only work within one country. Bitcoin on the other hand works worldwide. Nothing new here.

[empoweoqwj]

The article mentions Ripple. Does anyone know how many ripple currency units there are? My understanding is there is no way to check? Could be zillions I guess.

Ripple, wasn't that going to be the next big thing? Not heard much about it since mid 2013.

[retrend]

Really questionable article to say those things are changing the world more than bitcoin.  And m-pesa and paga have been big news for a while.  With the ever decreasing costs of smart phones, I would say they should be pretty worried about bitcoin.

People splitting the dinner bill is changing the world how?

[qwk]

So has anyone heard of Paga? (https://www.mypaga.com/)
[…]
Sounds like Bitcoin right? Nope. It's Nigerian mobile payment service Paga[…]

Sounds like Bitcoin? Not at all.
Services like M-Pesa, Pingit, Paga are centralized systems that come with huge fees and are only accessible to registered users.

The fees for these services vary but can be as high as 30% for a single transaction from user to user.

[Akka]

Many of the 3rd world countys have highly unstable currencys.

If Bitcoins are successful services like this could provide people in 3rd world countries an easy way to safely store their (little) wealth away from hyperinflation.

See for example Bitcoin integration in M-Pesa: http://www.mobilepaymentstoday.com/article/216119/M-PESA-meets-Bitcoin-with-new-service-in-Kenya

[techstorm2]

The article mentions Ripple. Does anyone know how many ripple currency units there are? My understanding is there is no way to check? Could be zillions I guess.

Ripple, wasn't that going to be the next big thing? Not heard much about it since mid 2013.

ripple is crap!

like we need another centralised currency which noone, except ripple central command understand.


Im sticking with bitcoin

 

[web-project]

I heard about the PAGA a couple years ago, as I had a project to develop the PAGA payment module for oscommerce.

[r0ach]

Yea, but can you buy an AK47 with a grenade launcher on Silk Road using PAGA

[FeedbackLoop]

Many of the 3rd world countys have highly unstable currencys.

If Bitcoins are successful services like this could provide people in 3rd world countries an easy way to safely store their (little) wealth away from hyperinflation.

See for example Bitcoin integration in M-Pesa: http://www.mobilepaymentstoday.com/article/216119/M-PESA-meets-Bitcoin-with-new-service-in-Kenya

Thanks for posting that link. Very interesting. I don't think it appeared in the press sub-forum.

[empoweoqwj]

Yea, but can you buy an AK47 with a grenade launcher on Silk Road using PAGA

lol. No. But neither can you buy that on SR anymore

[Singlebyte]

Many of the 3rd world countys have highly unstable currencys.

If Bitcoins are successful services like this could provide people in 3rd world countries an easy way to safely store their (little) wealth away from hyperinflation.

See for example Bitcoin integration in M-Pesa: http://www.mobilepaymentstoday.com/article/216119/M-PESA-meets-Bitcoin-with-new-service-in-Kenya

Thanks for posting that link. Very interesting. I don't think it appeared in the press sub-forum.

I thought about putting it over in the press section but the article really wasn't about bitcoins so I chose not to.  Yes, some of the article was interesting, but other parts were stretching it a bit in my opinion.

[crocko]

The article mentions Ripple. Does anyone know how many ripple currency units there are? My understanding is there is no way to check? Could be zillions I guess.

Ripple, wasn't that going to be the next big thing? Not heard much about it since mid 2013.

ripple is crap!

like we need another centralised currency which noone, except ripple central command understand.


Im sticking with bitcoin

 

+1 I dislike ripple too

[empoweoqwj]

The article mentions Ripple. Does anyone know how many ripple currency units there are? My understanding is there is no way to check? Could be zillions I guess.

Ripple, wasn't that going to be the next big thing? Not heard much about it since mid 2013.

ripple is crap!

like we need another centralised currency which noone, except ripple central command understand.


Im sticking with bitcoin

 

+1 I dislike ripple too

As far as I know, Ripple is backed by Google's venture capital arm, another reason not to use it