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PaySika leans on Visa’s fintech map to hasten Central Africa penetration

By , Freelance Investigative Journalist

PaySika, a neobank that facilitates online and offline payments, is set to enter the Central Africa sub-region, following a partnership deal it has sealed with Visa, through its Fintech Fast Track programme. 

Cameroon is the first country in which PaySika will launch.

Through Visa’s Fintech Fast Track programme, which gives fintech companies a jump start, PaySika will accelerate the integration process of its super app in the sub-region.

The partnership agreement will enable PaySika to tap into Visa’s experience and expertise, easily and rapidly access Visa’s global network and get favourable commercial rates. 

In addition, the collaboration will give PaySika the capability of processing thousands of transactions per second, in a secure and reliable manner.

Roger Nengwe, co-founder and president of PaySika, said he believes the partnership will help the fintech rapidly and progressively expand in Central Africa and other countries in Francophone Africa.

“We believe everyone should have easy access to a range of financial services and better manage their money and payments. This is why we wanted our prepaid bank cards to be free, with a simple application to manage everything independently without having to travel.

"We are convinced that this will bring a strong added value to our users and particularly to the new generation, for whom we see a very strong appetite for this type of service,” Nengwe said in a statement.

According to Ismahill Diaby, Visa’s MD for West and Central Africa, PaySika will get unprecedented access to the technology and resources it needs to effectively scale its growth.

PaySika is a digital payment services provider in Francophone Sub-Saharan Africa, where the bank penetration rate is below 20%. 

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