Visa has today announced a strategic partnership with Maxcom Africa PLC to enable more than 30,000 retailers in Tanzania to accept Visa on mobile payments. This effort aims to connect more Tanzanian consumers to the global payment system. It also comes as part of Visa’s strategic move to provide mobile payment services across East Africa.
The partnership will also allow 20,000 local agents to conduct cash deposits and withdrawals. This follows Visa’s success in Kenya where the solution was launched in partnership with partnerships with Barclays Bank, Cooperative Bank, Ecobank, Family Bank, KCB Bank, National Bank of Kenya, NIC Bank, Prime Bank, and Standard Chartered Bank.
Commenting on the new partnership, Visa General Manager for East Africa, Sunny Walia said Visa on mobile will enable consumers to pay merchants or send money to friends and family, directly from their bank account via their bank’s mobile banking services. ‘’ Our partnership with Maxcom Africa will ensure that Tanzanians can pay using Visa on their mobiles at over 30,000 new retailers. This partnership reinforces Visa’s commitment to expand mobile payments acceptance worldwide. We are rolling out this strategic partnership as we lay the foundation in the Tanzanian market for an upcoming launch of Visa on mobile.”
Maxcom Africa, a local Tanzanian-owned company that is better known as Maxmalipo, aims to provide a simple, secure and reliable way for individuals and businesses to make and accept payments in Tanzania. The company works with local merchants and banks to help local businesses accept online and mobile payments through built-in secure, encrypted protocols. Maxcom Africa also offers point of sale payments, online and agency services through a mobile app paired with a card-processing terminal.
“Our core aim is to help businesses provide their customers with a variety of payment options to transact seamlessly and securely on their mobile devices. Integrating Visa on Mobile enables us to offer more flexibility when our customers transact online, at physical point of sale or at bank agents. This partnership is timely as it fulfills the need for safe modes of cashless payments by our consumers and merchants,” said Maxcom Africa Director General, Jameson Kasati.
Visa on mobile enables consumers to access their funds directly from their bank accounts via their mobile banking app to pay merchants, send money to individuals, as well as deposit, or withdraw cash at any Visa agent. Enrolled merchants will receive a unique QR code with a Till Number that customers can scan using a smartphone or key-enter using a feature phone respectively to make the payments. The funds move directly from the consumer’s bank account into the merchant’s account and provides real-time notification to both parties.