Visa offers new Mobile Prepaid Product

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Visa has introduced a new product serving the needs of unbanked and under-banked consumers. The new product, a Visa prepaid account that can be accessed through a mobile phone, offers consumers in developing countries a secure, reliable, globally interoperable electronic payment account.

MTN Group plans to offer the new Visa product to MTN Mobile Money customers across its markets. As part of the launch, the new product will be available to customers in Nigeria and Uganda.

Jim McCarthy, Head of product, Visa Inc. said, "Reaching consumers who have previously lacked access to formal financial services with secure and reliable electronic payments is finally a reality. Mobile technology has become the single most important driver of financial inclusion that is enabling financial institutions, mobile network operators and Visa to connect unbanked consumers to each other and the global economy."

Christian de Faria, Chief Commercial Officer, MTN Group said, "The launch of this product with Visa doesn't only enhance our current mobile money offering, but also represents yet another crucial milestone in our journey to bring value-adding services to the growing population of mobile phone users in our markets. And as the appetite for mobile technology grows, MTN is excited to be at the forefront of providing millions of our customers with such important product innovations."


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