Safaricom Announces Its Partnership With Visa To Launch The ‘M-PESA GlobalPay’ Virtual Card
Safaricom Announces Its Partnership With Visa To Launch The ‘M-PESA GlobalPay’ Virtual Card. Safaricom announces its partnership with Visa to launch ‘M-PESA GlobalPay’ virtual card that enables customers to use M-PESA to shop at more than 100 million merchants across 200 countries for the first time.
Peter Ndegwa, CEO, Safaricom said in a statement, “M-PESA has, over the past 15 years, evolved from simply money transfer to become a robust payments platform and driver of financial inclusion for Kenyans. This has paved the way for numerous innovative services. By partnering with Visa to provide the M-PESA GlobalPay virtual card, we are looking to bridge the gap for our customers who would like to use M-PESA anywhere across the world.”
M-PESA is widely recognised as Africa’s leading fintech platform. Since its launch in 2007, it has grown to serve more than 51 million customers across seven countries, offering a variety of digital financial services including peer-to-peer money transfer, cashless and utility bill payments, micro-loans and savings.
Customers can access the new Visa card through the M-PESA telephone service or via the smartphone app. The card works by enabling customers to generate a unique card verification value (CVV) – the security code on payment cards – which can be used to confirm transactions with merchants online or when travelling abroad. For added security, each unique CVV generated lasts for just 30 minutes and is only accessible once a customer has inputted their M-PESA PIN.
