Nigerian fintech startup, Wallets Africa, has gone into partnership with global payments giant, Visa.
The partnership is aimed at offering customers physical Visa cards that can be used for local and international payments.
John Oke, CEO of Wallets Africa, expressed the start-up’s delight in the partnership:
“We’ve been working with technology suppliers across the world since inception to help offer world-class financial services to Africans, we are very excited to have VISA onboard as we continue on our journey.”
The start-up, which is domiciled in Lagos State of Nigeria, was founded by John Oke, and began operations in 2018. Since the fintech startup began operations, it has be making giant moves to simplify how users carry out transactions across the continent.
Wallets Africa provide users with a platform for money transfer, as well as airtime and data top-up. The start-up also allow users to make payments for subscription on streaming services, and check out with cards during e-shopping on popular e-commerce websites.
According to a report by Techpoint, the company has gone on to establish relationships and integrations with other cards, banks, and switch providers in Nigeria.
Vice President of Innovation and Strategic Partnerships at Visa inc., Otto Williams made comments on the partnership:
“The Wallets Africa team has made tremendous progress in a short period of time. I am impressed with the fact that they’ve successfully enabled Visa prepaid cards that work everywhere to thousands of digital natives and entrepreneurs in Nigeria. I look forward to seeing what they’ll do in other African countries soon.”
The start-up, which was formerly known as wallet.ng, was rechristened to Wallets Africa in 2019. The fintech start-up said it serves about 4000 businesses in Africa.
It is apparently worthy to note that between 2018 and 2020, Visa has invested about $400 million in African fintech startups. Beneficiaries of the investment includes Flutterwave, Paystack, Interswitch, and a number of other start-ups.