Visa / Finance Focus Q3 2022

VISA

INNOVATION, RELIABILITY AND SECURITY DRIVES FINANCIAL INCLUSION

Visa is on a profound and tireless mission to open doors around the globe, connecting three billion account holders to more than 60 million merchants, 15,500 financial institutions and governments in more than 200 countries worldwide. At the vanguard of the digital banking transformation sweeping across Africa, it is enabling individuals, businesses and economies to thrive and using innovation to catalyse the rapid growth of connected commerce.

PRODUCTION: William Denstone

INDUSTRY FOCUS: FINTECH

Since the dawn of Visa’s history in 1958, the year that Bank of America launched the first consumer credit card programme for middleclass consumers and SMEs in the U.S, innovation and growth have been two operative words that have defined its rapid rise to prominence.

International expansion came in 1974, before the introduction of the debit card in 1975 and the rebranding to Visa the following year, “a simple name that sounds the same in every

language, identified by a blue and gold flag.” In 2007, its various regional businesses around the world were merged to form Visa Inc and in 2008 the company went public, the subject of one of the largest IPOs in history.

In 2016, Visa completed the

acquisition of Visa Europe and today operates in more than 200 countries and territories, with products and services available on a litany of devices including cards, laptops, tablets and mobile devices. “We continue to evolve, but we have a simple and unwavering

“OUR TECHNOLOGY AND INNOVATION MAKE DIGITAL PAYMENTS A REALITY FOR CONSUMERS, BUSINESSES, BANKS AND GOVERNMENTS”

vision that can be traced back to our beginnings in 1958,” Visa sets out, “to be the best way to pay and be paid, for everyone, everywhere.”

“We know that every Visa transaction is a promise, and we want to provide the most secure and seamless payment experience possible.”

INNOVATION BEHIND TRANSFORMATION

South Africa remains a cash-dominated economy, accounting for more than

half of overall payment transactions, but card use is growing apace supported by an increasing banked population, due to financial inclusion programs, the availability of basic bank accounts and reduced interchange fees.

A growing e-commerce market, the adoption of alternative payment methods, the introduction of mobileonly banks and the rising popularity of contactless payments will only further drive this perceptible shift towards electronic payments in the

country, and Visa has been a pioneer of this facility for nearly 70 years. “Our technology and innovation make digital payments a reality for consumers, businesses, banks and governments,” the company relays, as it once again transforms the online checkout experience in Sub-Saharan Africa.

The global digital payments master has introduced its fast, easy and secure ‘Click to Pay’ checkout option, allowing all consumers who choose to shop via web, mobile, app

INDUSTRY FOCUS: FINTECH

ICPS - OFFERING A DIFFERENT TYPE OF SOLUTION

ICPS addresses all the challenges faced by all players in the secure electronic transactions industry with its open platform and modular architecture.

ICPS was founded in 2008 as a subsidiary of MCB Group in partnership with HPS. Based in Mauritius, ICPS has a rich portfolio of more than 30 clients in 22 countries across Africa and Asia.

The relationship between ICPS with Visa dates back from well before the inception of ICPS, that is, from the relationship with its anchor customers.

ICPS provides payment-processing services for banks and other financial institutions as well as telecom operators. The company’s activity covers hosting of more than six million cards, driving of more than 600 ATMs and 11,000 POS, and processes more than 10 million transactions per month.

ICPS also proposes to deliver its solutions and services on-premise, for greater flexibility, often imposed by local regulations on data sovereignty.

ICPS accompanies its clients along the value chain, from deciding on product positioning to maximising profits on the cards P&L; from issuing products to card personalisation of CCD (Common Core Definition), and biometric products.

HPS became sole owner of ICPS in 2021, after acquiring 80% of the shares.

HPS provides the invisible technology and human expertise that will maximise the chance of any transaction happening, via any channel.

HPS is an innovative payment solutions company at the forefront of the international payment industry providing payment solutions for issuers, acquirers, card processors, independent sales organisations’ (ISOs), retailers, and national and regional switches around the world.

PowerCARD is HPS’ comprehensive suite of solutions that covers the entire payment value chain by enabling innovative payments through its omnichannel solution that allows the processing of any transaction coming from any channel initiated by any means of payment. Today, more than 450 institutions in over 90 countries use PowerCARD. Learn more about the full ICPS portfolio: www.icps.mu/en

or connected device to pay with confidence. More consumers than ever are shopping online since the outbreak of the COVID-19 pandemic, and the digital-first explosion has ushered in the next generation of commerce, which demands an online checkout experience that is seamless and consistent across all types of channels.

“Click to pay uses advanced technology and authentication methods, including device binding and biometrics to protect transactions,” Visa says, with consumers now able

enjoy a secure checkout experience, all without having to remember a password, confident in the knowledge that Visa uses advanced technologies and multiple layers of payment security to help protect cards against unauthorised use.

“While the increasingly high numbers of digital shopping continue to rise in the wake of COVID-19, we are committed to providing solutions that lay the groundwork for the next generation of simple, secure and better ways to pay,” says Hadi Raad,

VP and head of digital solutions for Central and Eastern Europe, Middle East and Africa at Visa.

“This is truly a winning solution that will help merchants reduce shopping cart abandonment while providing a single integration for participating card brands – meaning a simpler and smoother overall digital checkout experience. The vision for the future is that click to pay will provide consumers a streamlined experience across any

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“WE BELIEVE THAT PARTNERSHIP, COLLABORATION AND INVESTMENT ARE KEY TO CREATING NEW AND INNOVATIVE PAYMENT SOLUTIONS”

ON-PREMISE OR SAAS, ENJOY THE HIGHEST LEVELS OF FLEXIBILITY

Part of HPS Group, a multinational company and a leading provider of payment solutions and services. PowerCARD is HPS’ comprehensive suite of solutions that covers the entire payment value chain by enabling innovative payments through its open platform that allows the processing of any transaction coming from any channel initiated by any means of payment.

30+ CLIENTS IN 22 COUNTRIES

6M+ CARDS

10M+ TRANSACTIONS PER MONTH

14M+ AUTHORISATIONS PER MONTH

We are committed to a culture of innovation and creative thinking.

INDUSTRY FOCUS: FINTECH

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digital checkout environment or network, mirroring the consistent, interoperable checkout experience that exists today in physical stores.”

“Now more than ever we are pleased to launch innovative products in partnership with Visa,

which empower our merchants to get more value out of every transaction,” added Sebastian Reis, EVP for global e-commerce at Checkout.com. “Visa’s click to pay will provide a seamless interface for consumers and we are excited to bring it to our merchants first.”

PUSHING FINANCE FORWARD

Continuing the onward march into the future of payments and accelerating new ways to transact, Visa’s Fintech Fast Track program is designed to enable the next generation of fintechs to join its network and build innovative digital commerce experiences for consumers and merchants alike. “We believe that partnership, collaboration and investment are key to creating new and innovative payment solutions. With Visa Fast Track, we’re making it easy and fast for fintechs to apply to work with Visa.”

Fast Track participation has grown 360% globally year-on-year, and Visa has welcomed hundreds of fintechs who are actively engaged in the programme. “It’s thrilling to see fintech partners utilise our programmes and network to digitise financial services and improve the lives of the consumers and businesses they touch,” said Jana Lvova, Head of Fintech, Europe, Visa.

Recognising the dire need of support and encouragement of female micro-and small-business owners, as they fund, run and grow their businesses across the continent, Visa has launched She’s Next, Empowered by Visa in Africa. “As a brand and global citizen, Visa is committed to ensuring that these small and micro enterprises are able to benefit from global trade,” said Visa’s Global Head of Government Engagement,

“OUR TECHNOLOGY AND INNOVATION MAKE DIGITAL PAYMENTS A REALITY FOR CONSUMERS, BUSINESSES, BANKS AND GOVERNMENTS”

Ambassador Demetrios Marantis.

Identifying and activating opportunities for women-led business is at the heart of this partnership, and Visa and The International Trade Centre (ITC) will work together to find solutions for overcoming the distinct cultural, regulatory and financial impediments to

the success of women-led enterprises.

“Women entrepreneurs are the backbone of local economies, and the need for support is real. Closing the gender gap requires persistent hard work and support,” said Aida Diarra, senior vice president and group country manager, Visa Sub Saharan Africa. “That is why Visa is using its voice to shine a light on the contributions and economic potential of female-owned micro-and small-businesses around the world.”

The world’s leader in digital payments has also recently announced plans to establish localised processing infrastructure in South Africa, to supplement the company’s global processing network VisaNet and serve both domestic and international payments for South African clients. One of the world’s most advanced processing networks, VisaNet facilitates

the rapid innovation required for Visa’s clients and partners to compete in the payments industry globally.

“Visa is committed to the growth and continued development of the South African market in addition to bringing global best practise to the local industry,” concluded Aida Diarra, Senior Vice President, Sub-Saharan Africa Group Country Manager Visa. “We are excited to bring our network capabilities on-shore and will continue to deliver a wide range of products, platforms and globally scaled value-added services.”

“WE CONTINUE TO EVOLVE, BUT OUR FOCUS REMAINS THE SAME – TO BE THE BEST WAY TO PAY AND BE PAID, FOR EVERYONE, EVERYWHERE”

From ingenious public transport payment, tracking and safety solutions to mPOS, cashless and tokenized ecommerce payment integration, Mobitill provides everyone in Africa the benefits of fast, modern, and secured payment solutions. And now, Mobitill is also a

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