Pyypl, a leading fintech in the Middle East and Africa (MEA), has announced a groundbreaking partnership with Visa to issue virtual and physical Visa cards through its mobile application. This collaboration aims to provide direct access to digital payments for users across the region, significantly enhancing financial inclusion.
In a statement released on Monday, Pyypl highlighted the importance of local regulatory support in enabling the issuance of prepaid Visa cards. “With the support of local regulators, Pyypl is able to provide access to prepaid Visa cards in these markets, fast-tracking financial inclusion across the MEA region,” the company stated.
Antti Arponen, CEO and co-founder of Pyypl, expressed excitement about the partnership. “Our payments ecosystem has multiple benefits for Visa and will accelerate the provision of financial services to the vast population of underserved digital natives in the region,” he said. This partnership marks a significant step forward in Pyypl’s mission to transform and digitize financial services for 850 million underserved smartphone users.
Working closely with Visa and local regulators, Pyypl is focused on expanding its presence in new markets and contributing to advancing financial inclusion. “We are focused on growing Pyypl’s presence and contributing to advancing financial inclusion across the region,” Arponen added, emphasizing the strategic importance of this collaboration.
Hasan Kazmi, VP and Head of Strategic Partnerships and Ventures for CEMEA at Visa, highlighted the transformative potential of this partnership. “We believe in empowering underbanked consumers by providing them with innovative, secure payment solutions. This not only gives them access to the digital economy but also helps them thrive in this increasingly digital age,” he said.
Pyypl’s partnership with Visa is set to elevate users from reliance on cash and mobile money to embracing the world of digital payments. With ambitions to become the biggest fintech payment services provider in the MEA and Central Asia region, Pyypl is paving the way for a more inclusive digital financial landscape.
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