Visa to launch QR-based payment solution in seven countries
Visa plans to launch its QR-based payment service – mVisa – in Egypt, Ghana, Indonesia, Kazakhstan, Nigeria, Pakistan and Vietnam.
mVisa will allow consumers to make cashless transactions at merchant outlets, pay bills remotely and even transfer to friends and family members by linking their Visa debit, credit or prepaid account to the mVisa application.
With this solution, consumers can also transfer funds from their account to the retailer’s account by scanning a QR code.
Visa senior vice president of digital for emerging markets Uttam Nayak said: “Small merchants using mVisa, for the first time, are most excited about how quickly and securely they receive electronic payments, without having to invest into expensive point of sale (POS) infrastructure.
“We are excited to continue to build momentum around mVisa to digitize payments with a scalable, interoperable and secure solution that benefits merchants, financial institutions and consumers.”
The mobile solution has been already introduced in India, Kenya and Rwanda.