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Visa pushes further into Africa (V)

Visa has partnered with Interswitch, Africa's integrated payments and transaction solutions company, to bolster adoption of mVisa

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Visa has partnered with Interswitch, Africa's integrated payments and transaction solutions company, to bolster adoption of mVisa, the card network’s mobile payment solution, according to Vanguard.

The two companies will team up to upgrade the digital banking apps of some of the region's leading banks to include mVisa, while making the payment method more accessible for merchants. MVisa is primarily an in-store payment method that allows users to pay or accept funds for goods or services by scanning a QR code on a smartphone or entering a merchant identifier into a feature phone. The mobile payment is interoperable, which means that users on both the consumer side and the merchant side won't have to share banks.

MVisa will likely see success in Africa thanks to the region's high consumer interest in mobile money, and because the offering solves a pain point other services haven't been able to.

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  • Mobile money has proved that mobile payments can take off in Africa.
  • actively
  • MVisa has a differentiating feature that could help it attract users.

BI Intelligence, Business Insider's premium research service, has compiled a detailed report on payments disruption that:

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