Johannesburg, South Africa (ADV) – Visa, a global payment technology company, is set to launch a mobile application (app) which aims to ease payment for consumers in Tanzania this week, Daily News reported.
The app,‘Visa on mobile’, is a global payment system which enables consumers to access their funds directly from their bank accounts through a mobile banking app to pay merchants, send money to individuals, and deposit or withdraw cash at any Visa agent.
The funds move directly from the consumer’s bank account into the merchant’s account and provide notification to both parties. Merchants will receive unique QR code with a Till Number (TN) that customers can scan using smartphone or key enter using a feature phone respectively to make the payments.
Visa East Africa’s Director for Merchant Sales and Solutions, Kennedy Luhombo, said Visa will collaborate with 15 banks including CRDB, Barclays, Access Bank Tanzania, Akiba Commercial Bank, Azania Bank Limited, to roll out this service in Tanzania.
“CRDB, NMB and Exim bank will have Visa on mobile enabled on their banking apps to deliver the service to consumers and merchants immediately while the other 12 banks will be implementing the service in the near future,” said Luhombo.
“Both consumers and merchants don’t need to be customers of the same bank or mobile operator because the transaction runs through the Visa network.”
Tanzania is the fourth country to launch the app after Kenya, Ghana and Rwanda.
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