Visa Launches Next Level of Mobile Payment in Nigeria

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Global payments leader Visa has launched mVisa, its innovative mobile payment service, in Nigeria.

Visa is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries through fast, secure and reliable electronic payments and with its mVisa initiative, seeks to ehnace customer  banking experience by helping them go totally cashless, this includes; POS and ATM transactions.

mVisa Launch

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.

Diamond Bank, Fidelity Bank and First Bank will offer their customers the convenience of mVisa through their mobile banking apps. Access Bank, Ecobank, United Bank for Africa and Zenith Bank will make mVisa accessable to customers in the coming weeks.

mVisa Launch

Speaking at the launch event, Andrew Torre, President for Visa Sub-Saharan Africa 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.” Stating that Visa is very excited to see 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.” Torre said

mVisa Launch

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, including places with no physical banking system available.

mVisa is already accepted at hundreds of locations across the country with many more merchants joining the ecosystem over the new few months. These merchants include DSTV, Konga.com, Genesis and IMAX Cinemas, Hard Rock Café, Quickteller and Spar.

mVisa is now live in Nigeria, Kenya, India, Rwanda and Egypt with plans to launch across Africa.