E-commerce and fintech platform, Copia Global, has announced a strategic partnership with Visa to provide digital financial services to middle to low-income consumers in Kenya.
With the 5-year partnership, Copia, which operates a B2C model, seeks to further expand its capabilities by leveraging Visa’s digital payment solutions.
The partnership between Copia and Visa will include a digital wallet that brings together shopping and financial services into one platform. This will allow users to shop and pay using Visa cards and also have access to additional financial services on the platform. This includes “Buy Now Pay Later” credit, “Save Now Buy Later” savings, Visa’s loyalty solutions, and remittance services.
“The partnership and rapid digitization of customers creates a huge opportunity for Copia and Visa to bank the unbanked with previously inaccessible financial services, solving financial inclusion for the mass market in Africa,” said Evelyn Wangari, Director of Financial Services, Copia Global.
“Copia’s e-commerce platform provides the perfect springboard for Visa to bring financial services to the mass market. Copia’s network of customers, agents and delivery sub-contractors will benefit from Visa’s capabilities on contactless payments, remittances, and loyalty solutions, said Eva Ngigi-Sarwari, Visa Kenya Country Manager.
“Our partnership with Visa will impact millions of lives by providing unparalleled access to digital financial services and fulfills Copia’s ambition to be a one-stop shop for all underserved customers in Africa,” said Tim Steel, Copia’s CEO.
Copia is yet to provide details on when this will be implemented. A quick look at the Visa Partner website shows that the Kenyan e-commerce platform is not yet listed as a Visa Ready partner.