• June 25, 2022

Visa Determined to Digitalize Ghana’s Financial Space

Payments technology company, Visa, has set up a dedicated office in Ghana in a bid to build stronger relationships with its partners in the country.

In a recent short media engagement, newly appointed Country Manager for Visa Ghana, Adoma Peprah, said although the payments solution provider has been operating in Ghana for over ten years, it has done so from its Nigeria office.

She added that the growing rate of Ghana’s financial market underscores the need to have a dedicated establishment in the country.

 “The Ghanaian economy is growing; payments are continuously becoming sophisticated and you need a dedicated focus here in Ghana to build these relationships so we decided to set up an office. Sub Saharan Africa is very, very key for us. On the continent there is a lot of cash and we find that we need to digitize the cash. Ghana is a huge market for us.”

The timing of Visa’s dedicated focus on Ghana seems perfect especially when the central bank is also putting up efforts to advance government’s financial inclusion drive.

Adoma Peprah -Country Manager For Ghana

Although a 2017 report by the Global Findex Database found that Ghanaian adults with access to financial service account increased from 29% in 2011 to 58%, experts believe there is room for improvement.

Strategic Approaches

The Country Manager of Visa, Adoma Preprah, outlined the key strategies to deepen its influence in the payments technology sphere in Ghana.

“One of the things we have launched is the Visa on Mobile. It is a secure code-based solution, an easy way for you to pay just by scanning a secure code with your smart phone or using the USSD string if you have a feature phone.”

Another approach she mentioned is to increase engagement with Micro Finance Institutions (MFIs) and other less formal financial institutions.

“With Visa, we have previously dealt with the big banks and it’s not enough. If you want to get financial inclusion, if you go to the rural villages there are no big banks there, MFIs are what they know.”

She added

By Edward Kyei Frimpong-Mybeeponline

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