Mobile payments company Paga earlier this week it has formed a partnership with Visa to accelerate its payment solutions. According to Paga, the Visa partnership is in line with Visa’s goal to drive alternative payment channels, such as mobile wallets, within its global ecosystem.
The partnership with Visa is notably another step in Paga’s global expansion plans. Also through the partnership, all Paga account holders will have access to Visa credentials (physical and virtual cards) tied to their Paga accounts and thus the ability to transact anywhere in the world Visa is accepted.
“Together, we are also working to launch a number of innovative merchant acceptance solutions which range from QR codes and NFC for in-store merchant payments, online payments, and international remittances all processed through Visa’s network.”
While sharing details about the partnership, Tayo Oviosu, Founder and Group CEO of Paga, stated:
“We are excited to partner with Visa, a leader in payments globally, as they are constantly building world-class solutions for consumers and businesses. Our goals are well aligned. As we scale our wallet across emerging markets such as Nigeria, Mexico, and Ethiopia, partnering with Visa to give both consumers and businesses, who have been underserved, access to Visa’s global network made sense to us.”
Otto Williams, Visa’s Vice President, Head of Strategic Partnerships, Fintech & Ventures for Central Europe Middle East and Africa commented;
“We are excited to have Paga plug into our network, as a company we remain grounded on the principles of partnership, innovation, trust and openness. This development ushers in a new era of speed and convenience beyond borders. It also allows us to continue working towards innovating robust platforms through which merchants using Paga’s payment collection suite can benefit from international money transfers and the growing eCommerce industry.”
Paga then added that as part of this partnership, it will join Visa Fintech Fast-Track Program. The Visa fintech fast-track program claims to make it easier for fintechs to access the global Visa payments network.