Tech analysis from Africa and the world

Visa Partners With Four Nigerian Banks to Bring Mobile Payments To Nigeria

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Still saving up as a small merchant to afford point of sale hardware for your business? Here’s a good news! You can rest easy as you won’t have to spend a fortune anymore as mVisa has got you covered. With mVisa, you can accept payments from your customers in a convenient, trustworthy, secure and affordable manner.

The Company has stated on its website that Access Bank, Ecobank, United Bank for Africa and Zenith Bank will go live with mVisa in the coming weeks and that Nigeria is the first market to provide customers the convenience of making cross-border payments using mVisa.

The mobile payment service is owned by Global payments company. This innovation is a solution that allows customers pay for goods by simply entering a merchant’s number into their feature phones. The payment is debited instantly from the consumers account, straight into the merchants with both parties duly notified. It’s that smooth and easy.

At the launch of the service, the president for Visa, Sub-Saharan Africa, Andrew Torre said, Small and medium merchants, in particular, no longer have to invest in expensive point of sale infrastructure as mVisa gives them the freedom to accept payments in a convenient, secure and affordable manner that their customers trust.

Andrew Torre stated also that the basic essence of the Mobile Payment is to make provision of transacting with ease, especially in a world of digital trading to potentially everyone, everywhere across Nigeria and the African continent, bringing millions of people into the formal financial system.

In alignment with the CBN cashless policy, the Diamond Bank’s Group Managing Director and Chief Executive Officer, Uzoma Dozie said that the bank has raised the bar for cashless banking in Nigeria by maintaining its leadership role in driving digital financial revolution in the country and that their customers will be able to make payments simply by using their mobile phones.

Other collaborative bank representative also applauded the invention. Gbolahan Joshua, the Chief Information Officer of Fidelity bank said Visa is an innovative service that merges the everyday mobile phone with a payment solutions plan that is easy for our customers to use. Our account holders will appreciate the convenience mVisa offers.

China Ezirim E-Business Group Head of Firstbank revealed at the launch that the innovation is one the bank’s strategy to deliver reliable, secure and convenient parent options to its esteemed customers.

It is hoped that many Nigerians will embrace this mobile paying option. With lots of advantages over the POS system which costs an arm and a leg, who wouldn’t be happy to embrace this transformation anyway? There’s no need to scramble over change or worse still, get burnt in the scorching sun, while queuing to get paid via the ATM.

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