Visa seems to be targeting developing countries in Africa, Asia and Latin America for its new mobile based prepaid product.
The new product a Visa prepaid account that can be accessed through a mobile phone, offers consumers in developing countries a secure, reliable, globally interoperable electronic payment account.
Visa’s new product enhance the security and extend the payment functionality by enabling account holders to send funds to each other, send and receive international remittances, make purchases at merchants or online where Visa is accepted or withdraw funds at a Visa ATM.
How it works :
Visa’s will offer consumers a new payment account that enhances the payment functionality of their existing mobile money service.In markets with Visa acceptance locations, consumers may also have the option to receive a Visa prepaid companion card that can be used at ATMs and merchants where Visa is accepted.