Visa has officially partnered with Kenya’s telecom, Safaricom. Visa will now be connected to their mobile money network.
With this partnership, Visa will open up its global merchant and card network across 200 countries to M-Pesa’s financial services in East Africa.
The partnership will also focus on development of products that will support digital payments for M-Pesa customers.
Safaricom’s M-Pesa app is the most recognized fintech product in Africa and has become a global case study in using mobile money to increase financial inclusion.
Kenya has one of the highest mobile-money adoption rates in the world. This is largely due to the dominance of M-Pesa in the country, which stands as Africa’s 6th largest economy.
Source: Techcrunch
Image Credit: Fortune
