Visa is expanding its digital payments ecosystem with new capabilities for Visa Accept and Visa Direct, enabling small businesses to use smartphones to both receive customer payments and send real-time payouts without investing in additional payment hardware.
The latest updates are aimed at helping micro, small and medium-sized businesses (SMBs), particularly in emerging markets, to simplify how they manage transactions as more commerce shifts to mobile devices. The move is also expected to improve financial inclusion by giving entrepreneurs easier access to digital payment tools using devices they already own.
Co-operative Bank to Roll Out the Service in Kenya
In Kenya, Co-operative Bank of Kenya is expected to unveil the service in the coming weeks, while Access Bank, OmniBank and Universal Merchant Bank in Ghana are also preparing to launch the solution. Visa expects the platform to reach millions of merchants globally by 2027.
Visa said that the enhanced services transform smartphones into all-in-one business payment hubs, allowing merchants to accept card payments, send payments to suppliers or workers, and manage customer transactions from a single device.
Visa Expands Smartphone Payments for Small Businesses
Leading the expansion is Visa Accept, a service that allows eligible merchants to turn their smartphones into payment terminals without requiring separate card readers or point-of-sale devices.
Through their banking applications, sellers can accept contactless card payments or payment links directly on their phones, while receiving funds in near real time. The solution is designed to help businesses improve cash flow, a persistent challenge for many small enterprises.
Visa Direct Adds Real-Time Business Payouts
Alongside payment acceptance, Visa is also expanding Visa Direct, allowing businesses to initiate real-time payouts directly from their smartphones.
The service will enable entrepreneurs to pay employees, contractors and delivery personnel, issue customer refunds or incentives, and transfer money across borders to eligible bank accounts, cards and digital wallets through banking, fintech and business platforms.
According to Shahebaz Khan, Senior Vice President and Head of Commercial and Money Movement Solutions for Central and Eastern Europe, Middle East and Africa at Visa, businesses increasingly need payment solutions that are seamless and reliable as customer expectations continue to evolve.
“We see a future where a single smartphone is all a seller needs to accept any way customers want to pay, gain powerful insights and confidently run their business, so they can spend less time on payment friction and more time creating the experiences that keep customers coming back,” he added.
The company noted that the platform also benefits financial institutions by allowing banks to enable eligible debit and prepaid cardholders to accept payments directly through existing banking applications. Consumers, meanwhile, continue to receive the same Visa payment protections regardless of whether they are purchasing from a street vendor or a major retailer.
Visa Accept is already available in more than 25 countries. Existing banking partners include HNB in Sri Lanka, Banco Agromercantil de Guatemala, SACOMBANK and VPBank in Vietnam.
Visa Research Highlights Growing Demand for Digital Financial Tools
However, the expansion comes as digital financial tools become increasingly essential for small enterprises. Visa’s Global SMB Macro Trends Report found that 99% of surveyed SMBs already use at least one digital financial solution, while 85% said these tools have positively impacted their businesses. The report also highlights significant growth potential, with roughly 530 million of the world’s 1.3 billion unbanked adults already owning smartphones.
Visa’s research found that one in five SMBs experiences cash flow shortages either daily or monthly, while nearly 28% reported difficulties accessing credit or borrowing facilities over the past year.
By combining payment acceptance and money movement on a single device, Visa is positioning smartphones as comprehensive financial tools for small businesses, reducing dependence on dedicated payment infrastructure while supporting faster and more efficient digital commerce.
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