Skip to main content

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

Post a Comment

Popular posts from this blog

New Research Finds Corner Shops are Faring Well Against Big Box Stores in Emerging Markets

Today,   Flourish Ventures   released a new research report showing that corner shops are doing better than predicted despite protracted supply chain issues and big-box and online retail competitors. The study confirmed better-than-expected sales and that 94% of consumers surveyed plan to shop as much or more at their corner shops in the future. Both shopkeepers and customers believe, however, that corner stores will need to accelerate digital technology adoption to remain relevant and competitive.                                                                                   ...
Post a Comment
Read more

Visa Takes a Shot at Financial Goals with New Football Video Game

With FIFA World Cup ™ excitement heating up , Visa (NYSE: V), the Official Payment Technology Partner of FIFA, invites football fans to sharpen their financial skills on the virtual pitch with the new version of the educational video game , Financial Football. Gamers can suit up as the country of their choice and take their best shot for the coveted trophy by correctly answering questions designed to help players make smart, well informed money management decisions. To further Visa’s commitment to uplift lives through the power of sport and the global platform of FIFA World Cup Qatar 2022™ , Visa is working in collaboration with clients and non-profit organizations to make the new version of Financial Football available to as many people as possible. Visa and partners will host events, learning series and promote game availability in more than 100 markets around the world leading up to and following the tournament. With only one-in-three adults estimated to have a basic understan...
Post a Comment
Read more

Column: Caleb Otieno: Seven ways to help your child manage anxiety and build resilience

All children experience stress in varying degrees as they grow. Despite their best efforts, parents cannot protect their children from all the challenges they face. Children will get sick, encounter bullies and cyberbullies, experience heartache, lose friends and pets, and now they also have to deal with the effects of Covid-19. Some of these challenges might seem insignificant in the eyes of an adult, but may be overwhelming to a child. In today's world, anxiety and stress are becoming more prevalent in children. While it is a normal and necessary emotion, designed as part of the human self-protection mechanism, it can inhibit us as well. Anxiety is the most common mental health condition in children. The signs of stress and anxiety in children often show up as physical or behavioural changes. This can include:  ● Finding it hard to concentrate; ● Poor sleeping patterns, sleepwalking or experiencing nightmares; ● Loss of appetite; ● Fear of making decisions; ● Difficulty beginning...
Post a Comment
Read more