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Visa forays into mobile money in East Africa with Mvisa app

Visa Africa
Visa in collaboration wit M-Pesa has launched the app in an effort to strengthen its presence in Kenya

M-Pesa and Visa have partnered to launch Mvisa app in Kenya. With that, the Mvisa app will allow users to make purchases or transfer money in the country, media reports said.

Visa is one of the world’s largest payments network. Its collaboration with M-Pesa is expected to enhance the payment landscape for Kenyans. It is reported that Visa foraying into the mobile money market is largely attributed to its average success of its traditional credit cards in the country.

Visa plans to expand into Rwanda, Uganda, Tanzania, and Nigeria in 2020, media reports. Currently, Africa is becoming a hotspot for mobile money and digital payments. In recent months, various fintechs in the local and global markets have sought Africa’s payments sector for further expansion.

Earlier this month, Visa demonstrated significant efforts in building strategic partnerships with n startups in Africa. In fact, Visa has been helping merchants and issuers to identify potential fraudulent transactions with 3-D Secure for two decades now — transforming the payments landscape.

Vice President and Country Manager, Visa West Africa, Kemi Okusanya, told the media, “Visa has been helping online merchants and issuers identify potentially fraudulent transactions with 3DS for nearly 20 years. Ecommerce in Nigeria is growing rapidly. Consumers expect always-on connectivity with mobile devices and rely on retailers to provide payment experience both secure and frictionless. That is where the new Visa Secure program comes into effect. Visa Secure offers significant enhancements in ecommerce fraud detection capabilities for issuers and merchants and can reduce friction for cardholders at checkout.”

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