UAE- Pyypl and Visa boost financial inclusion across emerging markets

2021-04-28 02:37:05

(MENAFN- Khaleej Times) Pyypl, the Middle East and Africa based payment technology company and financial services provider announced a new strategic partnership with Visa.

Pyypl and Visa have entered into a strategic partnership agreement valid across the Middle East. The companies have a shared commitment to promote financial inclusion in emerging markets, and the agreement will see collaboration on payment accounts in three separate phases: Pyypl card issuance, including contactless products; Visa developer APIs; and Visa Direct, scan-2-pay, and other innovative products and solutions.

This strategic collaboration will provide Pyypl with access to Visa's international network and expertise in payment solutions. Visa will benefit from Pyypl's regional expertise and innovative technology platform.

Antti Arponen, CEO and Co-Founder of Pyypl, said: 'Pyypl's focus is on Africa, Central Asia, and selected Middle East markets. We selected the UAE as our hub because of the UAE's solid international connectivity logistically, as well as in telecommunications and banking. These, combined with a vibrant fintech ecosystem, make UAE an ideal location for fintechs to operate from. And indeed, we are seeing more and more financial technology companies establishing in the UAE.

Pyypl provides a digital payments solution for smartphone users, to transact online, without the need for a bank account or credit card. Pyypl gives new levels of security and compliance by leveraging smart contracts, hardware encryption, and machine learning. Visa, the world's leader in digital payments. provides products, services, and infrastructure to support global commerce via fintechs, financial institutions, merchants, consumers, businesses, and governments.

Otto Williams, senior vice-president, head of partnerships, innovation and digital solutions for Visa in CEMEA said: 'As money management becomes increasingly digital, fintechs play a pivotal role in helping to restore and rebuild the global economy through these challenging times. It's thrilling to see fintech partners such as Pyypl utilise our programmes and network to digitise financial services and improve the lives of the consumers and businesses they touch. —

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