Visa partners _able and Onafriq to expand credit access in Africa

Visa is expanding its global credit footprint through a new partnership with fintech infrastructure provider _able and the payment network Onafriq. This initiative aims to provide consumer credit access to millions of bank account holders across Africa. While the immediate launch targets the African market, the technology behind the move signals a broader trend in how major card networks are integrating with local payment systems to bypass traditional credit hurdles. For retailers, this highlights the ongoing evolution of 'Credit-as-a-Service.' The partnership uses specialized APIs to allow banks and merchants to offer instant credit at the point of sale without needing the heavy infrastructure of a traditional bank. This move by Visa shows that the global push for seamless, embedded financing is accelerating. It reinforces the idea that consumer demand for flexible payment options is a global phenomenon. Operators should watch these developments as they often serve as testing grounds for new, low-friction lending technologies that eventually make their way into domestic retail stacks. As credit becomes more digitized and embedded, the barrier for customers to complete high-ticket purchases continues to drop.

Source: Finextra — Lending

← Return to the library· Submit a correction