VISA to scale up mobile money solutions


Dias Nyesiga

The New Times, Rwanda

Decemeber 18, 2012


Due to its ability to provide an interactive network in the mobile payment system, Visa’s mVisa facility will scale up mobile money solutions to bank the unbanked, especially the rural folks.

Visa Country Director, Ginger Baker, believes that the mVisa has the ability to share its infrastructure and ease the cost of mobile payment systems among players to boost access to financial services in the country.

“The power and ability to share cost amongst players in the systems and share agent network is something that will help to scale up mobile money solutions,” she said in an exclusive interview with Business Times.

Visa Inc. is an American global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries. It launched its services in the country last year.

Unlike other mobile money platforms, mVisa gives the account holder to access financial services from any Visa agent or merchant regardless of financial institutions or mobile money providers, something that helps to increase financial inclusion.

“It means that if I have an mVisa account, I can go to any Visa merchant with a Visa logo and get my money. It does not matter whom I have a relationship with is,” Baker pointed out.

“Today if you have mobile money, you can use agents who are sophisticated with the mobile money (platform) you are using,” she said.

“The offering comes with optional outsourced processing services based on technology from Fundamo, a South African company acquired by Visa last year.” she added. 

 Baker said that the mVisa overcomes the lack of access to physical bank branches and works across different banking institutions and mobile networks.

This, according to experts, will help rural folks to access financial services considering the low penetration of financial institutions in rural areas.

“When you consider mobile phone penetration  that is  higher than that of financial institutions in rural areas, it means that  mVisa that works across other platforms of mobile money is the best way to boost financial inclusion,” Job Opar, a customer care expert  told The New Times.

Moreover, this will boost financial education and promotion of the cashless economy the country is banking on to leapfrog into a service-based economy, a move that led to the Visa-Government partnership.

“A lot has been achieved in Rwanda in a year because of the cooperation at all levels and common understanding of the benefits of moving to electronification,” Elizabeth Buse, Visa’s Group President, Asia Pacific, Central Europe Middle East and Africa, observed.

Indeed, for the past year, the company has helped the country to bolster its payment systems through the introduction of Visanet. This allows relevant transactions to be settled in local currency besides laying a foundation for electronic payments.

To ensure long term economic success, Visa also increased capacity building for staff in the financial sector to broaden the use of electronic payments in the country.

The Minister of Finance and Economic Planning, John Rwangombwa, says the public private partnership in harnessing payment systems in the country is a positive impact towards matching commercial interest in a mutually constructive manner.

comments powered by Disqus

Stay Connected

  • Follow us on




Unbanked Tv

Featured Companies

  • Global mobile financial services technology provider.
  • A complete mobile money solution for mobile money providers in emerging markets.
  • Serves both mobile and e-payment needs in the Nigerian market place.
  • splash is Sierra Leoneís first mobile payment system.
  • Teasy is an innovative Nigerian based mobile payment company

MobileMoney Jobs

Featured Events

  • 10-11 July,2013 Accra - Ghana.
  • AfricaCom 12-14 November 2013 CTICC Cape Town South Africa
  • May 27 -29 Hyatt Regency Johannesburg, Johannesburg, South Africa.
  • MobileMoneyExpo, LAGOS Feb 12th & 13th, 2014 Nigeria


  • B
  • Stanbic MobileMoney Agent at Shoprite
  • Stanbic MobileMoney Stand at Shoprite
  • Visit to Management of Comviva,India
  • Agency field work with FortisMM, Ibadan
  • Agency activities with FortisMobile,Ibadan
  • EazyMoney Agent training, Lagos state
  • EazyMoney Agent training, Oyo State.
  • EazyMoney Agency Training, Edo State
  • EazyMoney Agent Training
  • Group visit to Tigocash,Ghana
  • TigoCash Agent branding stand, Accra
  • TigoCash Agent outlet, Accra
  • Tariff Table, TigoCash Ghana.
  • Field work in Enugu State.
  • Agent in Enugu State.
  • Agency Field work in East of Nigeria.
  • Merchant ID
  • Splash MobileMoney Call Center Team
  • Agent group Training, Lagos
  • Agent group training, Lagos
  • Splash MobileMoney, Sierra Leone
  • Visit to Splash MobileMoney, Sierra Leone.