Digital payment: Visa launched two initiatives to drive financial inclusion

In a press release made public on Thursday August 11, Visa indicates that it has launched a new program, in partnership with Vodacom, to promote the financial inclusion of women with disabilities. Visa has also entered into a three-year partnership with FPM in which Visa will provide US$1 million for a financial education program for cooperatives, mobile money operators, and education and learning institutions. To this end, Visa recalls that the Roadmap for Financial Inclusion in the DRC, which sets out national priorities for improving financial inclusion in the DRC, emphasizes that efficient payment systems are essential for the economic growth of the DRC. the country’s population and the success of the country’s financial inclusion aspirations. In this regard, Aida Diarra, Senior Vice President and General Manager for Sub-Saharan Africa at Visa said: “We have seen the benefits of the accelerated digitization of commerce and financial movements in many economies, and this is only possible through continued collaboration with governments and industry stakeholders. We look forward to partnering to support the fast-growing financial ecosystem in the DRC, while leveraging our payment network to enable local consumers and businesses to thrive.”

Developing digital payments

Visa also indicated that it has entered into a series of partnerships in the DRC and underlined its commitment to develop digital payments in the country with the establishment of local commercial activities and by working closely with the government and the financial ecosystem to bring and benefit consumers, merchants and partners from the advantages of digital payments. With an estimate that only a quarter of the DRC’s population is part of the financial ecosystem, it is said, Visa brought together public and private sector stakeholders to discuss opportunities to further develop the digital payments ecosystem. in the country.

Broaden public access to the digital economy

Visa’s partnerships in the DRC, the release says, aims to expand consumer access to the digital economy by introducing new payment credentials, as well as solutions to help more businesses accept payments. digital. Early partners include the Central Bank of the Democratic Republic of Congo, as well as financial institutions, fintechs, merchants and mobile operators.

Immediate partnerships include introducing Visa payment credentials for over 150,000 M-PESA customers in the DRC and accelerating acquiring and financial inclusion with fintech Infoset through Visa’s CyberSource platform. Al Kelly, Chairman and CEO of Visa said: “The DRC is one of the most dynamic countries in Africa, and we are happy to establish a local presence. By working closely with public and private sector partners, we have a common goal of expanding access to digital commerce and supporting the goals of the DRC economy. Visa’s goal is to empower everyone, everywhere, by being the best way to pay and get paid and which we accomplish when we include more customers and merchants in the financial system. This plays a critical role in ensuring lasting prosperity, and we look forward to new programs, initiatives and partnerships that can help further accelerate economic and societal progress.”

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