Visa, a global leader in digital payments, Thursday, announced the launch of Visa Pay, an innovative mobile solution that provides access to digital payments and account-to-account money movement in the Democratic Republic of the Congo (DRC). Visa Pay is an interoperable and secure way for banked and unbanked consumers to pay, get paid, and move money across participating banks and mobile networks.
With a focus on accessibility, affordability, and convenience, Visa Pay is tailored to meet the unique financial needs of individuals and businesses in the country. As a mobile-first solution, Visa Pay offers easy enrolment, advanced risk and fraud prevention capabilities, and near real-time account-to-account money movement in two currencies – CDF and USD. It also enables cash in/cash out at banks’ branches and facilitates online payments through virtual cards.
Visa Pay is launching in the DRC in partnership with eight financial institutions: Access Banque, BGFI, Equity Bank, FBN, Sofibanque, Solidaire Banque, TMB, and UBA. It is available as a mobile app on the Apple App Store and Google Play Store and also as a flexible integration option for banks, allowing them to embed Visa Pay features directly into their own mobile apps.
General Manager for Visa DRC, Sophie Kafuti, said: “We are excited to launch Visa Pay, an interoperable solution to scale digital payments in the country. The launch is part of our commitment to driving innovative solutions as a catalyst for greater financial inclusion, helping to provide broader access to the digital economy. Through Visa Pay, we aim to stimulate economic growth and to help establish the DRC as a regional leader in financial technology”.
The launch of Visa Pay in the Democratic Republic of Congo (DRC) exemplifies Visa’s commitment to promoting financial inclusion and supporting economic growth. By harnessing the transformative power of digital payments with local partnerships, Visa aims to unlock opportunities and empower both individuals and businesses to achieve their full potential.
