Digital payments giant Visa has announced the launch of Visa Pay, a 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 described as an interoperable and secure way for banked and unbanked consumers to pay, get paid, and move money across participating banks and mobile networks.
As a mobile-first solution, says Visa, Visa Pay offers easy enrolment, advanced risk and fraud prevention capabilities, and near real-time account-to-account money movement in two currencies: Congolese francs (CDF) and US dollars. 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.
Sophie Kafuti, General Manager for Visa DRC says: “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.”
