Digital payments giant Visa and MICT subsidiary Tingo Mobile have announced a strategic alliance to provide customers with improved access to digital payments across Africa.
Under the partnership, the firms aim to support financial inclusion throughout the continent.
The introduction of the TINGO Visa card, along with the new TingoPay Super App and TingoPay business portal, is said to unlock ‘significant’ opportunities for subscribers.
It will enable Tingo subscribers to carry out cashless transactions at over 61 million merchants in more than 200 nations via Visa’s global network.
Businesses can also safely receive payments from customers and other third-party users.
Besides, consumers can use the TingoPay Super App to access their Tingo Visa card that can be used for making online payments in local or foreign currencies.
They will also have options to manage their cards as well as create repeat payments and review their transaction statements.
Besides, TingoPay users will be able to pay utilities and bills in addition to having access to the Nwassa agricultural produce marketplace, among others.
The collaboration will primarily benefit farmers as well as different small and medium enterprises (SMEs).
It aims to serve Tingo Mobile’s existing 9.3 million of users and over 22 million new customers, who have joined the company as part of its latest trade agreements with All Farmer Association of Nigeria and the Kingdom of Ashanti, Ghana.
Visa vice president and head in West Africa Andrew Uaboi said: “Given the importance of the agricultural sector to Africa’s present and future, this partnership will help to digitise the entire value chain for farmers by enabling seamless digital payments which will facilitate economic growth and support the financial inclusion agenda across the continent.”
The latest alliance comes close on the heels of a strategic partnership announced between Visa and crypto payments firm Wirex to expand the latter’s reach in APAC and the UK.