Fintech firm Pyypl joins forces with Visa to drive financial inclusion in Africa
Pyypl, the Middle East and Africa (MEA) fintech has announced a partnership with to issue virtual and physical Visa cards through its mobile application, directly to its users.
Pyypl said in a statement on Monday that the agreement further recognises the licence approval process in other markets that it is entering.
‘’With the support of local regulators, Pyypl is able to provide access to prepaid Visa cards in these markets, fast-tracking financial inclusion across the MEA region.’’
“We are excited to announce our partnership with Visa. Our payments ecosystem has multiple benefits for Visa and will accelerate the provision of financial services to the vast population of underserved digital natives in the region. ‘’ Antti Arponen, CEO and co-founder of Pyypl, said.
‘’Working closely with Visa and local regulators in new markets, we are focused on growing Pyypl’s presence and contributing to advancing financial inclusion across the region,” Arponen added.
Pyypl operates in several markets across Africa and the Middle East. With a goal to transform and digitise financial services to a market of 850 million underserved smartphone users, the integration of Visa virtual cards will provide further access. The fintech has the ambition to become the biggest fintech payment services provider in the MEA and Central Asia region.
The company said that these cards will elevate its users from cash, mobile money and being financially underserved to the world of digital payments.
Hasan Kazmi, VP and head of strategic partnerships and ventures for CEMEA at Visa added that this partnership has the potential to empower underbanked consumers and integrate them into the digital economy.
“We believe in empowering underbanked consumers by providing them with innovative, secure payment solutions. This not only gives them access to the digital economy but also helps them thrive in this increasingly digital age,” he said.
