mVisa launched in Kenya to corner mobile payments market

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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.

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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.

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