Visa Launches New Digital Payments Solution in the DRC
Global payments leader Visa Inc. has launched Visa Pay, a new interoperable mobile solution designed to expand access to digital payments and money transfers across the Democratic Republic of the Congo (DRC).
Visa Pay enables consumers and businesses to pay, get paid and move money securely between accounts, whether banked or unbanked. The service is now available as a mobile app on the Apple App Store and Google Play Store, and can also be integrated directly into banks’ mobile applications.
The platform launches with eight partner banks: Access Banque, BGFI, Equity Bank, FBN, Sofibanque, Solidaire Banque, TMB and UBA. Through these partnerships, Visa Pay will offer account-to-account transfers in both Congolese francs (CDF) and US dollars, as well as cash-in and cash-out services at bank branches. It will also support online payments through virtual cards.
Sophie Kafuti, General Manager for Visa DRC, 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 help establish the DRC as a regional leader in financial technology.”
With features such as simple enrolment, advanced fraud prevention and near real-time money movement, Visa Pay has been designed to address the unique financial needs of individuals and small businesses in the DRC.
