Visa partners with ZEEPAY; drives financial inclusion across Ghana & Africa
By Pavithra R
ZEEPAY, a wholly Ghanaian owned mobile financial services company focused on providing integrated mobile payments services with mobile wallets has announced that the company has partnered with Visa to allow Africans in the diaspora to directly send money onto Visa debit and prepaid cards in Ghana.
ZEEPAY is a FinTech company targeting the unbanked and banked population with the objective of bringing the unbanked into the financial stream and easing payments and collections for the banked population. The partnership enables ZEEPAY to integrate Visa’s real-time push payments solution Visa Direct, with INSTNTMNY its money transfer platform, to provide users of the ZEEPAY app a fast, convenient and secure way to receive money and remittances directly into their eligible card credentials. The collaboration is expected to expand ZEEPAY and Visa’s reach and ability to open up commerce to the country.
“The service will immediately be available to over 2 million Visa cardholders in Ghana. We believe this service will further deepen our financial inclusion drive across Ghana and Africa at large. The strategy is to present the consumer with various options for receiving remittances from abroad, including Visa debit and prepaid cards, mobile money wallets, ATMs and Bank accounts. Our omnichannel approach makes ZEEPAY the preferred partner for remittance payout,” said Dede Quarshie, Chief Commercial Officer ZEEPAY.
“We are delighted to bring this service to Ghanaians, and we would like to thank our banking partners — ADB and GTBank for all the support”, Quarshie added.
The initial deployment phase will commence across ZEEPAY’s European and North American corridors and then expand to all major corridors globally. Visa Direct is a VisaNet processing capability that performs real-time push payments for small-business and consumer payments, helping financial institutions allow their customers to transfer funds directly to financial accounts using card credentials. With this collaboration, Ghanaians will experience efficiency, global scale and better digital experiences and instant access to funds from friends and family abroad.
“Championing the fintech community and our partners to drive the next generation of digital payments is core to our growth strategy at Visa. We are excited about our strategic collaboration with ZEEPAY, which will open new doors for meeting the needs of today’s consumer and continue to contribute to the betterment of the global payments ecosystem,” said Adoma Peprah, Country Manager, Visa Ghana.
Recently, Tangerine partnered with Visa Canada to launch Visa Debit.
Established since 1958, Visa is a global payments technology company working to enable consumers, businesses, banks, and governments to use digital currency. Its advanced global processing network, VisaNet, provides secure and reliable payments and is capable of handling more than 65,000 transaction messages a second.
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December 03, 2021
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