In a roundup of this week’s news, we report on a new partnership for Visa in Africa, more expansion into Europe for Alipay, and a transaction milestone in India, driven largely by mobile payments.
As Visa looks to expand its network into developing economies, it has tapped another partner with reach in Africa: Uber. The companies recently announced a multi-year partnership to help grow digital commerce across the continent.
Together, the companies plan to offer promotions that will result in free rides for Nigerian riders who pay with their Visa cards. To earn the rewards, users will be required to link their Visa card within the Uber app before requesting a ride.
“Visa’s purpose is to be the best way to pay and be paid, for everyone, everywhere. Everything we do as an organization aims to live up to this promise. Visa is always looking to align with like-minded brands who will help bring our cashless vision to life, and ensure that consumers have multiple payment options to best suit their everyday lives,” Andrew Torre, group country manager, Sub-Saharan Africa, for Visa said in a press release.
Munich-based point-of-sale technology provider Payworks announced that its payment gateway now supports China’s leading mobile payment service, Alipay. Payworks’ technology is used by acquirers and other payment providers. The agreement will help enable Alipay to expand acceptance of its payment method across Europe for its 520 million users.
The National Payments Corporation of India (NPCI) said last week that its transaction reached a milestone of 1 billion in July. NPCI operates 12 of India’s retail payments systems, including check and ATM transactions but also UPI, BHIM and Aadhaar.
“Highest growth has been seen in the mobile payments and Aadhaar based payments. This change was achieved by way of adding new products to NPCI’s portfolio and widening the membership of all products,” A.P. Hota, CEO of NPCI, said in a press release.
Manila-based mobile payments provider GCash announced that it is launching the Philippines’ first QR code-based payments service, called GoPay. Users will be able to access GoPay through the GCash apps on their smartphones. The service is initially being rolled out at select partner stores, the company said.
Bread, a technology company that builds financing solutions for online merchants, announced that it had raised $126 million in equity and debt capital. Bread’s technology allows merchants to customize and white label purchase financing options for their customers. The company said in a press release that it plans to use the equity capital to grow its merchant base and expand its engineering team.