Visa, the world’s largest payments network, is taking on the world’s largest mobile money platform, M-Pesa, in its home country. The credit card company has launched its Mvisa app that allows users to make purchases or transfer money on their cellphones in Kenya.
Visa admits that one reason for entering the mobile money market is because its hasn’t had much success promoting its traditional credit cards in the largest economy in East Africa. “One of the reasons is we haven’t had as many cards as we’d like,” Andrew Torre, head of Visa for Sub-saharan Africa, told Bloomberg, “the other reason is we haven’t been able to engage the hundreds millions of merchants where people shop.” Visa plans to expand to Rwanda, Uganda, Tanzania, and Nigeria within the year.
http://qz.com/781365/visa-has-launched-a-mobile-money-platform-to-challenge-m-pesa-in-kenya/
