May 9, 2021

M-Pesa and Visa Announces Alliance to Enable International Digital Payments

Mpesa-Visa-Card
Mpesa-Visa-Card

Ecommerce shopping is the new norm for most people. The covid-19 global pandemic has forced most people to appreciate e-commerce and platforms that offer secure cashless solutions. Cashless payments continue to grow in popularity driven by increased globalization and digitization further creating demand for more innovative services.

 Kenya’s largest mobile money transfer service M-Pesa has partnered with Visa, the world’s largest digital payments company, to facilitate secure international digital payments. The partnership will help in boosting e-commerce in East Africa. Ecommerce users in the region will be able to cross-border and international payments at ease to platforms like Amazon, E-bay among others.

“We are delighted to partner with Visa in exploring products that will support both our customers and Lipa Na M-PESA merchants. This partnership will play an important role in delivering even more value to our customers, linking them to even more opportunities especially in global e-commerce,” said Peter Ndegwa, CEO, Safaricom.

Through the joint venture, Visa and Safaricom will seek to eliminate barriers to global commerce and offer an extended set of mobile e-commerce capabilities to merchants and consumers by enabling secure and convenient cashless payment solutions.

“We are very excited to work with Safaricom and leverage our combined assets to broaden our offering to a larger number of merchants and consumers especially as governments and communities are increasingly focused on cashless and remote payments. We envision that our combined efforts in enabling seamless and interoperable financial services and products will eventually drive much desired financial inclusion in our communities,” said Corine Mbiaketcha, Vice President and General Manager for Visa in East Africa.

Kenya being a great tourist destination, the partnership will allow tourists to make payments through M-Pesa by downloading the M-Pesa app. Besides, M-Pesa customers traveling abroad will be able to use M-Pesa to make payments.

Visa has been partnering with Africa’s fintech companies as an expansion strategy. The parties say the partnership, which is subject to regulatory approval, will allow them to join hands facilitate e-commerce and increase digital inclusion in the region.

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