Visa Inc has announced a strategic partnership with Maxcom Africa PLC, a merchant aggregator also known as Maxmalipo, that will enable more than 30,000 retailers in Tanzania to accept Visa on mobile payments, as well as 20,000 local agents to conduct cash deposits and withdrawals.
This aims to connect more Tanzanian consumers to the global payment system and comes as part of Visa’s strategic move to provide mobile payment services across East Africa. This follows Visa’s success in Kenya where the solution was launched in partnership with Barclays Bank, Cooperative Bank, Ecobank, Family Bank, KCB Bank, National Bank of Kenya, NIC Bank, Prime Bank, and Standard Chartered Bank.
“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. It will also enable interoperable deposit and withdrawal services from appointed bank agents,” said Visa General Manager for East Africa, Sunny Walia.
He said the strategic partnership lays the foundation in the Tanzanian market for the launch of Visa on mobile.
Maxcom Africa Director General, Jameson Kasati said it aims 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 fulfils the need for safe modes of cashless payments by our consumers and merchants,” he said.
Maxcom currently provides e-payment services on utility payments, transport sector, health and insurance, financial services and merchant payment services. Visa have approved Maxcom Africa as an innovative partner with secured platforms to fulfill the financial inclusion agenda in Tanzania.
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.