MEA – Pyypl, the Middle East and Africa (MEA) fintech, has announced a partnership with Visa to issue virtual and physical Visa cards through its mobile application, directly to its users.
Pyypl said that the agreement further recognizes the license approval process in other markets it is entering. With the support of local regulators, Pyypl can provide access to prepaid Visa cards in these markets, fast-tracking financial inclusion across the MEA region.
The partnership with Visa is a testament to Pyypl’s mission to democratize access to financial services, its innovative business model, and the large market opportunity. It also highlights Visa’s trust in Pyypl to accelerate financial inclusion.
The Principal license also enables Pyypl to issue virtual and physical prepaid Visa cards directly to its hundreds of thousands of active users through its accessible mobile application. This elevates its users from cash and mobile money and financial underserved to the world of digital payments.
This marks the latest innovation in Pyypl’s transformational consumer offering and accelerates Pyypl’s international expansion by enabling, over time, the Company to offer prepaid Visa cards on a pan-regional basis.
“We are delighted to welcome Pyypl to our mission of advancing financial inclusion. We believe in empowering underbanked consumers by providing them with innovative, secure payment solutions,” said Hasan Kazmi, Vice President – CEMEA, Visa.
“This not only gives them access to the digital economy but also helps them thrive in this increasingly digital age.”
The partnership is aligned with Visa’s growth and innovation strategy of enhancing access to capabilities for 850 million digital natives across MEA.
“We are excited to announce our partnership with Visa. 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,” said Antti Arponen, CEO and co-founder of Pyypl.
“Working closely with Visa and local regulators in new markets, we are focused on growing Pyypl’s presence and contributing to advancing financial inclusion across the region.”
Pyypl is one of the fastest-growing fintechs in MEA, with an industry-leading management team with unrivalled experience in the region. Powered by 100% proprietary technology,which unlocks breakthrough consumer capabilities and sustainable growth, Pyypl is now operational in multiple markets across Africa and the GCC.
Pyypl is succeeding in its mission to be the leading one-stop fintech ecosystem for consumers, seamlessly and across borders.
Pyypl’s purpose-driven approach aims to offer transformational financial services to 850 million financially underserved smartphone users across Africa and the Middle East in a single app via internationally accepted virtual and physical prepaid cards, instant domestic and international user-to-user transfers, and remittances to 80 countries.
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