Visa and Paga have partnered to accelerate mobile payments for merchants and consumers in markets where they both operate.
Visa, which is also banking heavily on mobile wallets as alternative payment channels to its technology, says the deal will see all Paga account holders get access to its credentials (physical and virtual cards) and the ability to transact anywhere in the world Visa is accepted.
The two will launch a number of innovative merchant acceptance solutions which range from QR codes and NFC for in-store merchant payments, online payments, and international remittances all processed through Visa’s network.
Tayo Oviosu, Founder and Group CEO, Paga said, “We are excited to partner with Visa, a leader in payments globally, as they are constantly building world-class solutions for consumers and businesses. Our goals are well aligned.”
The new deal with Visa will give Paga’s consumers and businesses access to Visa’s global network to solve issues of cash, digitizing cash transactions and delivering financial services using new and innovative approaches.
Merchants who use Paga’s payment collection suite will also benefit from this partnership. They will be able to accept non-card based payments from customers of any bank in the world who offer Visa products. This will lead to much-improved customer experience and in the long-run, growth in sales.
Otto Williams, Visa’s Vice President, Head of Strategic Partnerships, Fintech & Ventures for Central Europe Middle East and Africa, in a statement, said;
“We are excited to have Paga plug into our network, as a company we remain grounded on the principles of partnership, innovation, trust and openness. This development ushers in a new era of speed and convenience beyond borders. It also allows us to continue working towards innovating robust platforms through which merchants using Paga’s payment collection suite can benefit from international money transfers and the growing eCommerce industry.
Paga will also join Visa Fintech Fast-Track Program which provides access to Visa’s payment capabilities and streamlined processes to support companies of different sizes and at different growth phases.