A high-level delegation from Visa Inc, yesterday called on President Paul Kagame at Village Urugwiro, where they briefed him on their strategy to introduce international technology in the banking sector. Visa is a multinational financial services corporation with headquarters in the United States of America.
A high-level delegation from Visa Inc, yesterday called on President Paul Kagame at Village Urugwiro, where they briefed him on their strategy to introduce international technology in the banking sector.
Visa is a multinational financial services corporation with headquarters in the United States of America.
The delegation was led by Elizabeth Buse, Visa’s Group President in Asia Pacific, Central Europe, Middle East and Africa and the Managing Director of Visa Rwanda, Ginger Baker.
Briefing journalists, Buse said that the group’s strategy is to create public-private partnerships that bring about economic growth.
"Visa’s partnership with Rwanda will lay foundation for future cooperation that is developmental; we seek to simplify the banking sector through the use of mobile telephone services that are more accessible and widespread,” Buse said.
She added that part of their agenda was to train those involved in implementing Visa systems to improve their economic literacy and ensure that the system is sustainable.
"Visa systems are important everywhere in the world because they increase transparency and can easily integrate with already existing banking systems.”
Central Bank Governor, Claver Gatete, said that his institution prioritizes the shift to electronic financial services to ensure that Rwanda achieves its 2020 targets.
"Visa presented its project to the President, which they have spent two years developing. This new electronic VISA system will facilitate all Rwandans, including those without bank accounts, as long as they use mobile phones,” Gatete said.
"Many people in the villages do not have ATM cards, but they have phones; the Visa systems will enable them to send and receive money, sell or buy merchandise using mobile phones to pay for the services,” he pointed out.