Visa predicts increased business in Africa

International electronic payment brand, Visa Incorporated, has said that African countries will continuously utilize the e-payment platforms for their transactions in large proportion between now and 2016.

This information was made known by the General Manager, (Morocco and Francophone Africa), Visa Incorporated, Mr. Mohamed Touhami El Ouazzani, who spoke during the Prepaid Middle East Summit conference in Dubai.

Mr. Ouazzani declared that the US-based company would continue to work in partnership with financial institutions and mobile business firms to enhance the use of e-payment platforms in Africa.

In his words, “Africa is the continent that will see the largest increase in electronic payments between now and 2016. In this area, Visa offers numerous innovation-based mobile banking services and solutions through its partnerships with financial institutions and international mobile phone businesses, notably via Samsung Pay and Apple Pay.

“Thanks to Visa Token Service technology, these two new services will facilitate secure payments with a broad range of connected devices. They will replace the sensitive payment account information contained on plastic cards with a digital account number that can be stored in complete safety on mobile devices and used to pay for purchases in stores or through apps.”

At the regional conference which was attendedby over 150 leading industry participants, UBA Cameroon was named as the winner of the ‘Prepaid Innovative Product of the Year’ for its innovative ‘Co-branded Student ID Visa Prepaid’ concept, which aims to provide universities and students with a multi-function Visa card.