Payment technology major Visa is planning to launch its mVisa mobile payments service in Nigeria before the end of 2016.
The credit card giant said that is in advanced talks with major Nigerian banks to launch the service in the country.
The service, first launched in India a year ago, allows users to pay for goods by scanning a QR code on a smartphone or entering a merchant number into their feature phones. Payment goes directly from the user’s Visa account into the merchant’s account and provides real-time notification to both parties.
Visa West Africa group country manager Ade Ashaye said: “We’re excited by the prospects of mVisa for Nigeria as a mobile payment solution which brings real benefits to drive digital transformation. Because mVisa allows merchants to accept Visa payments without having to invest in costly point of sale hardware, it gives Nigerian consumers a reliable, secure and convenient mobile payment option.”
The mobile payments service will be available for both smartphone users and consumers using basic feature phones, the company added.