With mVisa, consumers can directly access all of the funds in their bank accounts to pay merchants (person-to-merchant or P2M) or individuals (person-to-person or P2P).
The mVisa service will help customers make payments through their smartphones or feature phones by simply scanning the unique merchant QR code at merchant outlets.
The bank’s Managing Director, Dr Charles Kimei (pictured) said they were finalising the launch of mVisa application to further ease digital payment and boost financial inclusion.
“This QR [Quick Response] code readable app will drive and ease further payment using phones,” Dr Kimei said over the weekend during award giving ceremony for winners of Russia World Cup finals promotion campaign.
Visa General Manager for East Africa, Mr Sunny Walia said the partnership centred on “drive growth and accelerate” electronic payment in Tanzania.
“Tanzania is a key [Visa] market in East Africa…there a lot to do for Visa and CRDB in this area,” Mr Walia said over the weekend during awarding ceremony for winners of Russia World Cup finals campaign.
He said the end goal was to accelerate financial inclusion in the country and reaching many via electronic payment technology.
“Visa is committed to supporting innovation and aspiring developers in the country,” he said.
Visa is an American multinational financial services corporation, which facilitates electronic funds transfers in more than 200 countries and territories, most commonly through Visa-branded credit cards, gift cards and debit cards.
According to Global Findex, four people in 10 in developing economies have a mobile phone and internet access.
Global Findex data shows that about 1.1 billion unbanked adults worldwide—about two-thirds of all those without a bank account—have a mobile phone.
Daily News
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