Visa Inc., the global leader in payments, has announced a strategic partnership with Maxcom Africa PLC – a merchant aggregator also known as Maxmalipo – that will enable more than 30,000 retailers in Tanzania to accept Visa on mobile payments, as well as 20,000 local agents to conduct cash deposits and withdrawals.
This effort aims to connect more Tanzanian consumers to the global payment system. This comes as part of Visa’s strategic move to provide mobile payment services across East Africa.
This follows Visa’s success in Kenya where the solution was launched in partnership with partnerships with Barclays Bank, Cooperative Bank, Ecobank, Family Bank, KCB Bank, National Bank of Kenya, NIC Bank, Prime Bank, and Standard Chartered Bank.
“Visa is committed to bringing more convenient, reliable and secure ways to pay everywhere around the world. Now, in addition to plastic cards, consumers can use their mobile phones to pay with Visa.
“Visa on mobile will enable consumers to pay merchants or send money to friends and family, directly from their bank account via their bank’s mobile banking services.
“It will also enable interoperable deposit and withdrawal services from appointed bank agents. Our partnership with Maxcom Africa will ensure that Tanzanians can pay using Visa on their mobiles at over 30,000 new retailers.
“This partnership reinforces Visa’s commitment to expand mobile payments acceptance worldwide. We are rolling out this strategic partnership as we lay the foundation in the Tanzanian market for an upcoming launch of Visa on mobile,” said Visa General Manager for East Africa, Sunny Walia.
Maxcom Africa, a local Tanzanian-owned company that is better known as Maxmalipo, aims to provide a simple, secure and reliable way for individuals and businesses to make and accept payments in Tanzania.
Maxcom Africa works with local merchants and banks to help local businesses accept online and mobile payments through built-in secure, encrypted protocols.
Maxcom Africa also offers point of sale payments, online and agency services through a mobile app paired with a card-processing terminal.
“Our core aim is to help businesses provide their customers with a variety of payment options to transact seamlessly and securely on their mobile devices.
“Integrating Visa on Mobile enables us to offer more flexibility when our customers transact online, at physical point of sale or at bank agents. This partnership is timely as it fulfills the need for safe modes of cashless payments by our consumers and merchants,” said Maxcom Africa Director General, Jameson Kasati.
Maxcom currently provides e-payment services on utility payments, transport sector, health and insurance, financial services and merchant payment services. Visa have approved Maxcom Africa as an innovative partner with secured platforms to fulfil the financial inclusion agenda in Tanzania.
Visa on mobile enables consumers to access their funds directly from their bank accounts via their mobile banking app to pay merchants, send money to individuals, as well as deposit, or withdraw cash at any Visa agent.
Enrolled merchants will receive a unique QR code with a Till Number that customers can scan using a smartphone or key enter using a feature phone respectively to make the payments.
The funds move directly from the consumer’s bank account into the merchant’s account and provides real-time notification to both parties.
Enrolled bank agents will also receive a QR code with a Till Number that consumers can scan using a smartphone or key entered from a feature phone respectively to deposit or withdraw funds into or from enabled bank accounts.
The partnership, powered by a local Bank, CRDB Bank, aims to roll-out Visa on mobile to not only accelerate digital commerce in the country, but also ensure a good consumer experience.