Visa broadens digital payment opportunities in Democratic Republic of Congo through the introduction of Visa Pay service
Visa Introduces Visa Pay in Democratic Republic of Congo
In a significant move towards driving financial inclusion, global digital payments leader Visa has launched Visa Pay in the Democratic Republic of Congo (DRC). The mobile-first solution aims to provide broader access to the digital economy and stimulate economic growth in the region.
Visa Pay offers a flexible integration option for banks, enabling them to embed Visa Pay features directly into their own mobile apps. This interoperable service can be used across participating banks and mobile networks in the DRC, offering individuals and businesses a convenient and accessible way to manage their finances.
The launch of Visa Pay is partnered with eight financial institutions, including Access Bank, BGFI, Equity Bank, FBN, Sofibanque, Solidaire Banque, TMB, and UBA. The service supports near real-time account-to-account money movement in two currencies - CDF and USD, and facilitates online payments through virtual cards.
Sophie Kafuti, General Manager of Visa DRC, expressed excitement about the launch of Visa Pay. She stated, "We are committed to driving innovative solutions for financial inclusion, and we believe Visa Pay will unlock opportunities and empower individuals and businesses to achieve their full potential in the DRC."
Visa Pay's advanced risk and fraud prevention capabilities ensure secure transactions, while its easy enrolment process makes it accessible for all. The mobile app is available on the Apple App Store and Google Play Store. Furthermore, Visa Pay allows for cash-in/cash-out at banks' branches in the DRC.
The launch of Visa Pay is part of Visa's broader goal to establish the DRC as a regional leader in financial technology and stimulate economic growth. By providing an innovative mobile solution for digital payments and account-to-account money movement, Visa aims to help the DRC thrive in the digital economy.
