Visa and MFS Africa Team on Digital Payments

Friday, December 13, 2019

Africa has pioneered mobile money, with the likes of M-Pesa in Kenya leading the way. However, without a virtual or physical network credential associated with them, many international online services are unavailable to users.

To help solve this problem, MFS Africa – Africa’s largest digital payments hub, connecting through one API more than 180 million mobile wallets on the continent – will distribute Visa payment credentials across more than 15 markets.

This will allow mobile money users connected to the MFS Africa platform to generate an instant Visa virtual card with a 16-digit number and link it to their mobile money accounts to use for remittances and e-commerce transactions.

Photo courtesy of rawpixel.

Source: Finextra (link opens in a new window)

Categories
Finance
Tags
digital finance, digital payments, e-commerce, financial services, fintech, mobile money, Safaricom