[WATCH] VISA to Explore Cutting-Edge Payment Solutions Leveraging Blockchain at its First Innovation Studio in Africa

Ideas to expand the growth of emerging payment areas such as Tap-to-Phone and Pay-on-Delivery will be explored at the Innovation Studio, alongside the ongoing development of cutting-edge smarter payment solutions that leverage blockchain, Internet of Things, Virtual Reality (VR), and biometrics.

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In april 2022, digital payment provider, VISA, opened its latest innovation studio in Nairobi, Kenya, East Africa, described as its first dedicated innovation site in Sub-Saharan Africa (SSA).

The facility will serve the sub-Saharan Africa region and joins a network of innovation centers operated by VISA since 2016 in cities including Dubai, Singapore, and San Francisco.

According to Aida Diarra, Senior Vice President & Head of VISA in Sub-Saharan Africa:

“Sub-Saharan Africa is a fast-growing region with a tech-savvy population. As we continue to grow digital payments adoption in the region, our aspiration is to deepen our collaboration with clients and partners in developing solutions that are designed around the unique needs of Africa.”

– Senior Vice President / Head of VISA, Sub-Saharan Africa

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SEE ALSO: 82% of Small Businesses Plan to Accept Digital Payments in 2022, with 25% Planning to Accept Bitcoin, Says VISA

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Businesses in Sub-Saharan Africa have been leading the way in introducing new methods of paying, and being paid, by harnessing innovative technologies.

Ideas to expand the growth of emerging payment areas such as Tap-to-Phone and Pay-on-Delivery will be explored at the Innovation Studio, alongside the ongoing development of cutting-edge smarter payment solutions that leverage blockchain, Internet of Things, Virtual Reality (VR), and biometrics.

The studio will help VISA clients and partners from across the continent extend their service offerings.

VISA has previously used its existing innovation hubs to design products for the African market, including a collaboration with Nigerian Fintech, Paga, to develop new merchant acceptance solutions involving QR codes and NFC technology.

Also, fostered in VISA’s other innovation labs, was a recent partnership with Kenya’s Safaricom allowing the telco’s 150, 000 mobile money (M-PESA) merchants to accept card payments.

“As a brand built on technology, VISA has driven the major technology advancements that make electronic payments what they are today. We are confident that the innovation studio will continue that legacy and cement Sub-Saharan Africa’s position as a leader in creating out-of-the-box solutions to deal with our most pressing challenges as a region.”

– Senior Vice President / Head of VISA, Sub-Saharan Africa

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RECOMMENDED READING: [WATCH] Visa Partners with Tala, a Leading Kenyan Mobile Loan App, to Provide Access to the USDC Stablecoin

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