Be Mobile, a challenger bank for the unbanked and underbanked in Africa announced that it has been accepted into Visa’s Fintech Fast Track Program
Be Mobile, a challenger bank for the unbanked and underbanked in Africa, announced that it has joined Visa’s Fintech Fast Track Program.
The program allows FinTechs to leverage the speed, security, reliability and scale of Visa’s global VisaNet network and its enablement partners to introduce new payment experiences.
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Through this collaboration with Visa, Be Mobile is preparing to launch Visa cards to its retail and corporate user base, allowing users to spend their funds globally at the 70 million merchant locations in the Visa network. In addition, Be Mobile, through its financial institution partner, will add access on its platform to Visa Direct, Visa’s real-time push payments platform, enabling its customers to send funds from Be Mobile to eligible Visa cards in over 160 currencies.
Be Mobile provides financial-type services to the unbanked and underbanked in Africa. The company covers 30 markets and 22 currencies, and offers products such as multi-currency accounts, low-cost remittances, and a 5% savings offering for USD and EUR.
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The company has customers in Africa and internationally, including the United States, Canada and Europe. Be Mobile Visa cards will first be available in Canada—where Be Mobile is headquartered and which is home to a large African diaspora—before being rolled out to other jurisdictions.
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