Reach Plus Presence

Onafriq was established to connect mobile wallets throughout Africa, and now its users in the Democratic Republic of Congo (DRC) can link their services with Visa’s card network through a new collaboration. This partnership introduces Visa Pay, a cloud-based payments-as-a-service platform designed to enable customers to fund their digital wallets via mobile money channels using Onafriq’s APIs.

Launched by Visa and Onafriq, Visa Pay will bridge the gap between Visa’s card network and the major digital wallet providers in DRC, including M-Pesa, Airtel Money, and Orange Money. This initiative addresses a significant market need: there are approximately 120 million Visa transactions annually in the country, according to industry reports.

Africa is forecasted to see $3.85 billion in transaction value via mobile payments this year, as projected by GSMA Africa. Sophie Kafuti, General Manager of Visa DRC, highlighted that their collaboration aims to accelerate financial inclusion in the region.

Just the Beginning

This partnership not only bolsters financial inclusion but also reflects Visa’s global strategy. As Visa adjusted its focus following the U.S.’s lack of open banking regulations, the firm now targets markets like Europe and Latin America.

Africa could emerge as a promising territory for Visa, with Onafriq connecting to about one billion wallets across 43 nations in Africa. This DRC launch might just be the first step in expanding Visa Pay’s reach across the continent.