Visa Inc. has introduced mVisa, a new mobile payment service competing with Kenya’s leading mobile money transfer service, M-pesa.
As part of its initial roll-out, Visa has partnered with Kenya’s top tier banks, Co-Operative Bank, Family Bank, Kenya Commercial Bank (KCB) and NIC Bank to deliver this service to local consumers and merchants, Visa Inc. said in a statement.
The mVisa service allows consumers to directly access all funds in their bank accounts to pay merchants (person-to-merchant) or individuals (person-to-person).
The service allows consumers to pay merchants by scanning a QR code on a smart phone or by entering a merchant number into a feature phone.
Source PANA
