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New partnership to deliver digital finance services to Kenyans

By , Kenya Correspondent
Kenya , Africa , 14 Dec 2023
Eva Ngigi-Sarwari, Visa Kenya country manager pens deal with Tim Steel, CEO of Copia.
Eva Ngigi-Sarwari, Visa Kenya country manager pens deal with Tim Steel, CEO of Copia.

Copia Global, the Kenyan last-mile delivery and eCommerce platform, has partnered with Visa to provide digital financial services to middle-to-low-income consumers.

Announced this week, the 5-year partnership will include a digital wallet or Copia super-app that brings together shopping and financial services into one user-friendly platform. It also serves as a savings/ credit facility.

Customers can access additional financial services such as “Buy Now Pay Later” credit, “Save Now Buy Later” savings, build a credit score, and benefit from Visa’s loyalty solutions.

The Visa partnership will enable diaspora to remit funds directly into the Copia wallet for purchases of essential goods and services back home.

“The partnership and rapid digitisation of customers creates 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.” said Evelyn Wangari, director financial services, Copia Global. 

Eva Ngigi-Sarwari, Visa Kenya country manager added that Copia’s e-commerce platform provides the perfect springboard for Visa to bring financial services to the mass market. 

‘’Copia’s network of customers, agents and delivery sub-contractors will benefit from Visa’s capabilities on contactless payments, remittances, and loyalty solutions.”

Tim Steel, Copia’s CEO said it will impact millions of lives by providing unparalleled access to digital financial services and fulfills Copia’s ambition to be a one-stop shop for all underserved customers in Africa”

The digital payments market is currently experiencing a surge in growth, driven by the rapid adoption of smartphones.

According to the companies more than 73% of Copia’s middle and low-income consumers own smartphones, a leap from less than 10% a decade ago.

The digital wave is also evidenced in Copia agents, nearly all of whom were using offline (text-based) ordering at the end of 2022 and now 80% of them fully use the Copia app just one year later. 

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