Ayodeji Ayenuwa
Kenyan e-commerce and fintech company, Copia Global, has announced a five-year partnership with the global payments giant Visa.
This collaboration aims to reshape the financial services and digital commerce landscape, focusing on rural, middle, and low-income consumers in Kenya.
Founded in 2013 by Silicon Valley experts Tracey Turner and Jonathan Lewis, Copia’s business-to-consumer (B2C) platform stands as a practical hub for rural consumers to conveniently order and receive a diverse range of products through digitally-enabled local agents.
The key aspect of this collaboration is the introduction of an innovative digital wallet, seamlessly integrating shopping and financial services within Copia’s app.
Users can not only shop and pay but also save, borrow, and access various financial services, including flexible payment options, “Buy Now Pay Later” credit, “Save Now Buy Later” savings, credit score building, and exclusive loyalty solutions from Visa.
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Evelyn Wangari, Director of Financial Services at Copia Global, highlights the potential for significant financial inclusion, addressing the unbanked with previously inaccessible services in Africa.
She states, “The partnership and rapid digitization of customers create 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.”
The collaboration extends its impact to diaspora communities, allowing seamless remittances directly into the Copia wallet for essential goods and services purchases.
“The partnership and rapid digitization of customers create 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,” says Evelyn Wangari.
Copia’s unique model, relying on digitally-enabled local agents and existing trusted shopkeepers, facilitates order placement and product delivery.
Visa, a global payments facilitator, brings its expertise in managing transactions across borders, connecting consumers, merchants, financial institutions, and government entities worldwide.
“The partnership and rapid digitization of customers create 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,” emphasizes Eva Ngigi-Sarwari, Visa Kenya Country Manager.
This collaboration marks a significant stride towards financial inclusion and digitized commerce, indicating a new era for both Copia and Visa in the dynamic landscape of African fintech and e-commerce.
SOURCE: Citizen Digital
Techrectory with Agency Report.
