Leading African challenger FinTech into cross border payments extends Visa payment solutions and credentials to simplify cross border remittances.
STAMFORD STREET LONDON, 28th September, 2020 – ZEEPAY, a fast-growing African FinTech, today announced a partnership with Visa that will allow Africans in the diaspora to send money directly onto Visa debit and prepaid cards in Ghana.
Through the partnership, ZEEPAY will integrate Visa’s real-time push payments solution Visa Direct, with INSTNTMNY its money transfer platform, to provide users of the ZEEPAY app a fast, convenient and secure way to receive money and remittances directly into their eligible card credentials. This will significantly expand ZEEPAY and Visa’s reach and ability to open up commerce to the country.
The initial deployment phase will commence across ZEEPAY’s European and North American corridors and then expand to all major corridors globally. Visa Direct enables consumers to send money, share costs, and support family around the world. With this partnership, Ghanaians will enjoy efficiency, global scale and better digital experiences and instant access to funds from friends and family abroad.
Dede Quarshie, Chief Commercial Officer ZEEPAY, speaking about the service said, “The service will immediately be available to over 2 million Visa card holders in Ghana. We believe this service will further deepen our financial inclusion drive across Ghana and Africa at large. The strategy is to present the consumer with various options for receiving remittances from abroad including Visa debit and prepaid cards, mobile money wallets, ATMs and Bank accounts. Our omni channel approach makes ZEEPAY the preferred partner for remittance payout.
“We are delighted to bring this service to Ghanaians, and we would like to thank our banking partners – ADB and GTBank for all the support”, Quarshie added.
“Championing the fintech community and our partners to drive the next generation of digital payments is core to our growth strategy at Visa,” said Adoma Peprah, Country Manager, Visa Ghana. “We are excited about our strategic collaboration with ZEEPAY, which will open new doors for meeting the needs of today’s consumer and continue to contribute to the betterment of the global payments ecosystem.”
Over the past decade, Ghanaians have adopted a mobile-led, digital payments ecosystem and Visa’s objective in the region has been to accelerate the distribution of payment credentials and expand the acceptance space for digital payments. This partnership with ZEEPAY is an essential step towards achieving that goal.
Zeepay is the fastest growing FINTECH into Mobile Financial Services across Africa with Operations in Ghana and United Kingdom and terminating to 20 countries across Africa and with termination agreements in over 90 jurisdictions globally. We specialize in Remittance termination into mobile wallets and completely network and partner agnostic. We are wholly owned Ghanaian company and regulated in the UK by Financial Conduct Authority-FCA # 592538 and in Ghana by Bank of Ghana- PSD/ZGL/20/03 under the Payment Systems and Services Act, 2019 (Act 987). Zeepay supports Sustainable Development Goals (SDG) 3 and is considered a Financial Inclusion Company positioned to improve last mile access. Visit myzeepay.com for more information.
Source: Zeepay JV UK
Naa Dromo Korankye-Ankrah
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second.
The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device, for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit visa.com