MFS Africa has spent the last decade building an interoperable mobile payments system linking millions of consumers in Africa, and now it’s formed a partnership with Visa to extend global card acceptance to its users.
As Africa’s largest digital payment hub, MFS has agreed to link Visa digital payment credentials across multiple markets in Africa so MFS users may access a virtual Visa card instantly for remittances and cross-border payments.
Through a single API that supports cross-border digital payments for merchants, banks, mobile telcos and money transfer operators, MFS Africa links to 180 million bank-connected mobile wallets in Africa, the release said.
In addition to enabling mobile money users to adopt a virtual Visa card, MFS Africa plans to integrate Visa’s debit push technology, Visa Direct, into its platform.
“MFS Africa will help us enable digital payment use cases at scale through (MFS’) aggregation model,” said Jack Forestell, Visa’s executive vice president and chief product officer, in a release.
“Having reached significant scale, we are now turning our focus to connecting our network to the wider world, to unleash the wealth of opportunity that trade with Africa presents to the global economy,” added Dare Okoudjou, MFS Africa’s founder and CEO,
