Global payments leader, Visa yesterday in Lagos, launched mVisa, its mobile payment service. The solution is being rolled out across Africa.
Consumers from Visa?s Nigerian partner banks can pay with any mobile phone wherever mVisa is accepted. mVisa transactions are processed via Visa?s global network, VisaNet, applying the same scale, security and reliability as any other Visa transaction, the firm explained.
With the launch of the app, Diamond Bank, Fidelity Bank and First Bank will now offer their customers the convenience of mVisa through their mobile banking apps. Access Bank, Ecobank, United Bank for Africa and Zenith Bank will go live with mVisa in the coming weeks. Nigeria is the first market to provide customers the convenience of making cross-border payments using mVisa.
President for Visa sub-Saharan Africa, Andrew Torre, said small and medium merchants in particular, no longer have to invest in expensive point of sale infrastructure as mVisa gives them the freedom to accept payments in a convenient, secure and affordable manner that their customers trust.
?We are very excited to see more and more merchants come on board every day as they begin to understand the benefits that mVisa brings, including real-time notifications of payments and access to sales and transactions history. We have campaigns lined up for the coming months to support our merchants and encourage new customers to experience mVisa at various locations across Nigeria.
?Today, Visa and its financial institution partners are, for the first time, providing the benefits of digital commerce to potentially everyone, everywhere across Nigeria and the African continent, bringing millions more people into the formal financial system,? he said.
Diamond Bank?s Group Managing Director and Chief Executive Officer, Uzoma Dozie, said the launch of mVisa is timely and aligns with the cashless policy of the Central Bank of Nigeria (CBN) and the digital growth strategy of the bank.