2023-07-04 08:27:46
To speed up electronic payment in the West African sub-region, the Electronic Banking Grouping of the West African Economic and Monetary Union (GIM-UEMOA) has just entered into a partnership with Visa, the joint company made up of more than 15,000 banks and credit companies.
Sylvestre TCHOMAKOU
An organization for the governance, supervision and management of electronic banking in the sub-region, the Interbank Electronic Banking Group of the West African Economic and Monetary Union (GIM-UEMOA) uses the services of the world leader in digital payments, Visa . With this new partnership, both parties will work to develop GIMpay, an innovative payment ecosystem for WAEMU countries. GIMpay, in a context of digitization of all sectors of activity, effective development of the African common market and above all the promotion of merchant payment, aims, according to Visa, to improve the accessibility, security and efficiency of electronic payments. by proposing new use cases adapted to the UEMOA region. “Through this collaboration, Visa and GIM-Uemoa will work together to develop this interoperable ecosystem that will facilitate electronic transactions for individuals and businesses in the region,” reads the press release announcing the partnership.
This partnership, informs the press release, will allow, on the one hand, the populations of UEMOA to benefit from an interoperable solution, offering advanced functionalities such as mobile payments, instant money transfers, online payments , customer retention solutions and more. On the other hand, the partners will define a joint strategy for the growth of Fintechs in the region. GIMpay will rely on the existing infrastructure of Visa and GIM-UEMOA to ensure fast, secure and reliable transactions. By collaborating with GIM-Uemoa, Visa reinforces its commitment to supporting the economic and financial development of West Africa.
Thanks to GIMpay, people in UEMOA will be able to benefit from increased financial inclusion, greater ease of use of digital financial services and a reduction in dependence on cash payments. Speaking on the occasion, “we are delighted to partner with GIM-UEMOA to develop GIMpay, an innovative payments ecosystem for the UEMOA region as this partnership with GIM-UEMOA marks an important milestone in our efforts to promote financial inclusion and economic development within the WAEMU”, expressed Ismahill Diaby, Managing Director of Visa for West and Central Africa. “By combining the expertise and resources of Visa and GIM-UEMOA, he continues, we are convinced that we can create a robust payments ecosystem that will meet the needs of consumers and businesses in the region”. Happy with this progress, the Director General of GIM-UEMOA, Minayegnan Coulibaly indicated that “this partnership is an illustration of our vision: to facilitate, catalyze and federate the open payment ecosystem of UEMOA. GIMpay is a catalyst for the initiatives of banks, electronic money institutions, decentralized financial services, fintechs and national public treasuries in mastering the customer experience”. This partnership, presumably, should enable a number of banks and mobile money operators to get closer to the services offered by Visa which, for several years, has remained the world leader in “e-payment”.
About GIM-UEMOA
The UEMOA Electronic Money Interbank Grouping (GIM-UEMOA) brings together 145 Members who are banks, financial and postal establishments, microfinance structures, Electronic Money Establishments. Its main mission is to promote electronic payment systems and means to the banking and financial sectors, administrations and populations of WAEMU.
About Visa Inc.
Visa is a global leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities in more than 200 countries and territories. Its mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling people, businesses and economies to thrive. For Visa, economies that include everyone, everywhere elevate everyone, everywhere. Visa sees access as fundamental to the future of money movement.
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juillet 4, 2023
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