EFT Corporation (EFTCorp) and Visa have announced a five-year partnership to transform Africa’s digital payments landscape.
This collaboration seeks to enhance financial inclusion and introduce advanced payment solutions across the continent.
Fintechs across Africa are invited to join an exclusive program designed to accelerate their growth. By leveraging EFTCorp’s established platform and reach, participants will scale their operations, unlock new opportunities and drive innovation in the fintech space.
With over 20 years’ experience in Africa, EFTCorp works with banks and fintechs. It provides comprehensive end-to-end banking capabilities covering card issuing, acquiring, wallets, KYC, mPOS, microfinance, SME banking, domestic switching and more. This enables Fintech’s to scale their operations while relying on EFTCorp’s world-class support and expertise.
This partnership will provide fintechs with access to comprehensive prepaid and debit card programmes tailored for diverse consumer needs, EFTCorp will serve as programme manager and issuer processor ensuring efficient and effective payment processing.
“While we’re providing local market expertise and infrastructure, Visa provides full commitment, know-how, and real investment to support EFTCorp’s business objectives. The collaboration will also allow both companies to strengthen their brand and footprint in these regions. But it goes much further than that. The fintechs will have the opportunity to scale their businesses and enhance their proposition, which in turn benefits the consumer and improves financial access on the continent.” Clayton Hayward, Group CEO of EFTCorp, says.
The participating fintechs will be selected based on the viability of their business case as well as their ability to create significant impact.
To ensure the programme’s success, EFTCorp will host a series of informal roundtable engagements with fintechs in Ethiopia, Kenya, Ghana and other key regions to address local challenges and opportunities.
“This partnership with Visa reaffirms our commitment to supporting both banks and fintechs on the continent, and our intention of becoming the common fabric for banks, telco, retailers, governments, and fintechs in Africa,” Hayward adds.
“This partnership will enhance financial inclusion in key African markets by combining EFTCorp’s local expertise with Visa’s global resources, delivering unmatched payment solutions across the continent. Together, we aim to provide cutting-edge solutions that uplift economies and enhance customer experiences, marking a significant step towards revolutionising digital payments across Africa” Aida Diarra, Senior Vice President and Head of Sub-Saharan Africa at Visa, says.
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