Global payments company Visa, has today launched mVisa, a mobile payment service, in Kenya. The service will work on both smartphones and feature phones.
mVisa is basically payment service in the form of a bank funds transfer service through mobile and via the Visa network. This means that the person sending the money and the party receiving don’t need to share a bank.
Visa has partnered with the following to roll out the new service
- Co-Operative Bank
- Family Bank
- KCB Bank
- NIC Bank
How mVisa works
- Customers of participating will need to activate mVisa
- Once activated, they will be able to access mVisa via their bank’s mobile app or via USSD.
- mVisa customers will be able to send money to anyone using the service and also use it for payments.
- For smartphone users, the merchant will provide a QR code that will have their payment details.
- For feature phone users, the merchant will give them a number for them to use via USSD.
Visa has released an mVisa API to enable developers to create apps that accept mobile payments.