NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Monday, July 10, 2017

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.