EFTCorp and Visa have announced a strategic five-year partnership aimed at reshaping Africa’s digital payment landscape. This collaboration will focus on boosting financial inclusion and introducing sophisticated payment solutions across the continent.
A Shared Vision for Africa’s Future
Aida Diarra, Senior Vice President and Head of Sub-Saharan Africa at Visa, emphasised the alignment between Visa’s global mission and EFTCorp’s vision for Africa. “By combining EFTCorp’s local expertise with Visa’s global resources, we aim to deliver unmatched payment solutions across the continent,” she said. “Together, we will provide cutting-edge solutions that uplift economies and enhance customer experiences, revolutionising digital payments in Africa.”
Leveraging Local Expertise and Global Reach
EFTCorp, with over 20 years of experience in Africa, is a trusted partner for numerous banks and fintechs. The company offers a comprehensive suite of banking services, including card issuing, acquiring, wallets, KYC, mPOS, microfinance, SME banking, domestic switching, and more. This partnership will empower fintechs to scale their operations and benefit from EFTCorp’s world-class support and expertise.
Clayton Hayward, Group CEO of EFTCorp, expressed enthusiasm about the partnership’s potential. “Visa’s commitment, know-how, and investment, combined with our local market expertise and infrastructure, create a truly win-win scenario,” he said. “This collaboration will strengthen both companies’ brand and footprint in the region, while empowering fintechs to scale their businesses and enhance their offerings, ultimately benefiting consumers and improving financial access across Africa.”
A Catalyst for Financial Inclusion
Africa’s rapidly growing population, projected to double by 2050, presents significant opportunities for inclusive growth and innovation. EFTCorp’s partnership with Visa is a key step towards realising this potential. “Financial inclusion is at the heart of EFTCorp’s values,” Hayward stated. “For Africa’s young population, digital transformation is essential for accessing financial services. We aim to provide forward-thinking solutions that meet their needs.”
This partnership marks the inaugural project of EFTCorp’s newly formed EFT Ventures division, underscoring the company’s commitment to driving digital transformation across Africa. By combining forces, Visa and EFTCorp are poised to shape the future of payments and financial services on the continent.
