Obinna Ezugwu
Global digital payments giant Visa has launched a new mobile-based solution, Visa Pay, aimed at expanding access to digital payments and promoting financial inclusion in the Democratic Republic of the Congo (DRC).
The interoperable platform allows users to pay, get paid, and move money securely across participating banks and mobile networks. It will initially be available through five partner banks — Access Banque, FBN, Sofibanque, Solidaire Banque, and UBA — with BGFI, Equity Bank, and TMB set to join soon.
Visa Pay is designed to serve both banked and unbanked populations, enabling near real-time account-to-account transfers in Congolese Franc (CDF) and US Dollars. The service supports cash-in and cash-out at bank branches, and facilitates online transactions via virtual cards.
Users can access the solution through the Visa Pay mobile app, available on the Apple App Store and Google Play Store, or through their banks’ mobile applications, as the service offers integration options for financial institutions.
Speaking on the launch, Sophie Kafuti, Visa’s General Manager for DRC, said:
“We are excited to launch Visa Pay, an interoperable solution to scale digital payments in the country. The launch is part of our commitment to driving innovative solutions as a catalyst for greater financial inclusion, helping to provide broader access to the digital economy. Through Visa Pay, we aim to stimulate economic growth and help establish the DRC as a regional leader in financial technology.”
Visa says the introduction of Visa Pay reflects its broader strategy of leveraging digital payments to unlock economic opportunities for individuals and businesses. By collaborating with local financial institutions, the company aims to strengthen the country’s digital economy and drive sustainable growth.
Source: HallmarkNews | Read the Full Story…
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