Business News of Friday, 23 November 2018
Source: Vivo Energy Ghana
Visa, the global payments technology company and Vivo Energy, the company that markets and distributes Shell-branded fuels and lubricants in Africa, have announced a Pan African agreement to provide digital payment services to consumers across 15 African countries, where both companies operate.
The partnership is geared towards growing digital commerce and will offer more Visa acceptance points in selected sites across Vivo Energy’s network of Shell branded service stations and convenience shops in Africa.
Mr. David Mureithi, Executive Vice President, Vivo Energy commented, “Vivo Energy and Visa share a common goal of helping consumers to pay with confidence, transparency and security. This partnership fits our overall strategy of offering innovative and convenient solutions to our customers, to help developing lasting relationships with them. Through this alliance with Visa, we want to expand the range of services we offer to our customers and also allow them to pay in a simple and easy way at our Shell service stations.”
Visa President for Sub Saharan Africa, Aida Diarra said, “We constantly strive to reduce reliance on cash, and encourage the development of a digital payments ecosystem for both individuals and businesses. Our partnership with Vivo Energy aligns with the kind of collaborations we look for – those that will help extend our reach into Africa’s commerce ecosystem as it changes and grows, and that will provide mutually beneficial business opportunities.”
Digital cashless transactions will enable the customers not only, to benefit from Vivo Energy’s high quality fuels, lubricants and services, but to also to be able to control and monitor their expenses.
This partnership will enhance the customers’ experience by allowing them to enjoy the Visa payment technology. It will offer them convenience, security and efficiency when they refuel as well as when they purchase food, drinks, magazines or more in the shops and restaurants located in Shell stations.
The two entities are optimistic that this move will spur the uptake of cashless payments in an environment where cash is still widely used by consumers and merchants.
Research shows that almost 80 percent of most retail transactions are in cash, while the other 20 percent is mobile money and card transactions.