Visa, the global leader in digital payment technologies, has awarded Safaricom Plc a Payment Facilitator certificate. This prestigious recognition marks a significant step forward in the ongoing collaboration between the telecommunications giant and Visa. The move reflects a commitment to expanding payment solutions and enhancing the merchant ecosystem in Kenya.
The partnership between Visa and Safaricom, which has been progressively evolving since the introduction of the M-PESA Global Pay Virtual Visa Card in June 2022, is set to reach new heights with this latest development. By granting Safaricom the Payment Facilitator certificate, Visa is enabling the telco to offer a wider range of payment options through its Cyber Source Payment Gateway. This integration will allow Safaricom’s vast network of over 600,000 merchants to accept card payments from all major card networks, thereby broadening their payment acceptance capabilities.
Chad Pollock, General Manager and Vice President at Visa East Africa, expressed enthusiasm about the advancement. “We are thrilled to present the Payment Facilitator certificate to Safaricom and take our partnership to the next level,” Pollock stated. “This collaboration underscores our commitment to providing cutting-edge payment solutions that drive growth and efficiency for merchants. While in 2022 we opened the M-PESA consumers to the world with the GlobalPay Visa Virtual Card, we are now giving over 600,000 merchants access to the world of consumers.”
Visa’s Cyber Source Payment Gateway is a pivotal element of this initiative. It is designed to offer merchants a seamless, secure, and efficient means of processing card payments, thus facilitating a more inclusive and versatile payment environment. The gateway supports a range of card networks, which aligns with Safaricom’s objective to diversify payment options for its merchants.
Esther Waititu, Chief Financial Services Officer at Safaricom, highlighted the strategic importance of this partnership. “Our partnership with Visa has been instrumental in enhancing our payment capabilities. The introduction of card payments through Visa’s Cyber Source gateway is a testament to our shared vision of empowering merchants with diverse and secure payment options. At Safaricom, we continuously develop holistic solutions for our clients, and this milestone will enhance our value proposition to merchants across online and face-to-face payments.”
This collaboration is expected to deliver significant benefits to Safaricom’s merchant network. By integrating Visa’s advanced payment technologies, merchants will be able to offer more flexible payment options, ultimately leading to improved customer satisfaction and increased transaction volumes. The initiative aligns with Safaricom’s ongoing efforts to innovate and enhance its financial services, ensuring that merchants are well-equipped to meet the evolving demands of the digital economy.
Moreover, the Payment Facilitator certification is more than just a symbolic gesture; it represents a tangible enhancement in Safaricom’s ability to deliver comprehensive payment solutions. As the financial landscape continues to shift towards digital platforms, such partnerships are crucial in facilitating a smooth transition and ensuring that merchants can adapt to new payment trends with ease.
In summary, Visa’s award of the Payment Facilitator certificate to Safaricom is a landmark achievement that underscores the telco’s growing influence in the digital payments space. It signifies a commitment to providing robust and secure payment solutions while empowering a large network of merchants. As Safaricom continues to innovate and expand its offerings, this partnership with Visa is poised to play a key role in shaping the future of payments in Kenya and beyond.
