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Emerging markets: Pyypl and Visa partners to boost financial inclusion

Pyypl and Visa announce a Strategic Partnership Agreement, with the aim of promoting financial inclusion in emerging markets.

According to a report by fintech times, the duo of Pyypl and Visa have agreed to promote financial inclusion across the Middle East.

The Agreement will see collaboration on payment accounts in three separate phases:

  • Phase 1 – Pyypl card issuance, including contactless products
  • Phase 2 – Visa developer APIs
  • Phase 3 – Visa Direct, scan-2-pay, and other innovative products and solutions
“We are delighted to welcome Visa as a new partner. Visa is globally renowned for its strong industry experience and innovative financial services. Through partnering with Visa, we are looking to take another step forward in promoting greater financial inclusion across the MENA region.” CEO and Co-Founder of Pyypl, Antti Arponen.
CEO and co-founder of Pyypl Antti Arponen|Source:Global Ventures

Pyypl, through this partnership, will be able to access Visa's international network and expertise in payment solutions. Visa, on the other hand, will leverage Pyypl's regional expertise and innovative technology platform.

"As money management becomes increasingly digital, fintechs play a pivotal role in helping to restore and rebuild the global economy through these challenging times. It’s thrilling to see fintech partners such as Pyypl utilize our programs and network to digitize financial services and improve the lives of the consumers and businesses they touch." Otto Williams, Senior Vice President, Head of Partnerships, Innovation and Digital Solutions for Visa in CEMEA

Pyypl is a payment technology company based in the Middle East and Africa. The company provides digital payments solution for smartphone users to transact online without the need for a bank account or credit card.

Pyypl gives new levels of security and compliance by leveraging smart contracts, hardware encryption, and machine learning.