Visa and Branch in Microcredit Partnership

Visa, the world’s leader in digital payments, and international mobile financial services firm Branch have announced a partnership under which Branch will offer custom financing to merchants who accept payment via Visa (Visa on mobile or Card). The loans will provide merchants with funds to grow their business through supplemental stock, infrastructure investment, and other key operational needs. Loans will be disbursed directly to the merchants’ phones.

“We are happy to work with Branch to offer seamless access to finance through our Visa network, as they seek to provide micro-credit facilities to merchants across Kenya“, said Visa General Manager for East Africa, Sunny Walia. “With this partnership, we seek to offer value beyond just transactions. We would like to help the merchants grow their business and drive financial inclusion among the small merchant segments that are often unable to access quick loans,” he added.

Through this partnership, Visa and Branch aim to significantly reduce the cost of cash for these merchants. The eligible merchants will be able to access loans of up to KSh30, 000 ($300) which can be repaid within 6 months.

“Visa revolutionized the payments technology space and popularized the idea of the credit card to the world,” said Branch CEO Matthew Flannery. “At Branch, we think mobile financial apps are the ‘cards’ of the future. It only makes sense to be working together to bring world-class financial services to merchants here in Kenya and beyond.”

Branch is a machine learning-powered provider of mobile financial products across Africa and Latin America, with plans to expand to Asia. Branch helps unlock financial access for billions of people around the world and is currently the most popular financial app in Africa. In emerging markets across the globe, there is an expanding need for fair, reliable financial services and capital. With smartphone growth usage at an all-time high, Branch has a unique opportunity to build customer-first financial products for people worldwide.

Comments

Visa and Halotel bring secure and convenient mobile payments for Tanzanians

Visa, the global payments technology company, has announced a strategic partnership with Halotel to enable Visa on mobile payments on Halotel’s HaloPesa wallet in Tanzania. The service will be rolled out in early 2019 thereby enabling HaloPesa’s one million registered wallet holders to use Visa on mobile to securely make merchant payments and conduct cash deposits and withdrawals at Visa agents. Any HaloPesa customer, including those who do not have a bank account, will be able to benefit from the solution. The aim is to connect more Tanzanians to the global payment system, bringing secure and convenient mobile commerce for consumers and merchants. “We are excited about this partnership with a key mobile service provider such as Halotel. Our partnership with Halotel will ensure that Tanzanians can pay using Visa on their mobiles at over 40,000 new retailers. It will also help expand financial inclusion for Tanzanian consumers who will now be able to benefit from pa...

Bolt launches its car-sharing service Bolt Drive

Bolt, the leading European mobility platform, launches its car-sharing service, Bolt Drive. The new service allows customers to rent a car for short periods of time using the Bolt app. Bolt will invest €20 million in launching Bolt Drive in Europe this year, starting with a pilot in its home market, Estonia. Bolt is the first mobility platform in Europe to offer car-sharing, ride-hailing and micromobility with scooters and electric bikes in one app. By enabling customers to quickly and conveniently rent a car at the tap of a button, Bolt allows them to be less dependent on personal cars and encourages the use of alternative modes of transport for short-distance trips. Markus Villig, CEO at Bolt, said: “Personal cars are the primary cause of problems in urban transport. They are responsible for traffic, environmental emissions and taking up city space. Bolt’s mission is to help people give up their personal cars by providing a better alternative. For people to switch from ownership to o...

Narok School benefits from a Dormitory Courtesy of Procter and Gamble

STUDENTS OF OLOIGERO PRIMARY SCHOOL POSE FOR A PHOTO WITH THE P&G TEAM AND PARTNERS OUTSIDE THE NEWLY BUILT DOMITORY Pupils of Oloigero Primary School in Narok County have a reason to smile after Procter and Gamble funded the construction of a girl’s dormitory in the school. The facility, which will accommodate 80 girls, will help support and improve the access to quality education in the area. “Access to quality education is affected by a myriad of challenges in this country. Inadequate infrastructure is one of them. The situation is even more dire for our girls thus the reason we are here today to commission this dormitory. We believe that this facility will be a critical resource to help keep our girls in school and together with other partners we will work to ensure that we change the narrative about girls missing school due to menstruation,” said Anthony Ng’ang’a, Associate Brand Director -Commercial Leader - East Africa at Procter & Gamble (P&G)...

Maisha 254

Search This Blog