Sunday, September 22, 2013

mVISA Roadshows in Rwanda...

VISA is a well known brand for global e-payment service provider. It connects all VISA card issuers and merchants as a network, and clears all e-payments globally. In this context, VISA is for the rich in the developed countries. VISA also has presence in developing countries, but only for the select few.

VISA has been aiming to expand its outreach to the underserved people in the world. Thus, it created a division just for this purpose. It is called Emerging Market Solutions. As part of this effort, VISA took the initiative of developing a mobile banking solutions for payments and aptly named it mVISA.

mVISA wanted to test its product in a country. After survey on several countries in various aspects, mVISA chose Rwanda as the pilot country. mVISA also wanted to partner with a micro finance bank in developing the product solution. mVISA chose Urwego Opportunity Bank or UOB. For the past 18 months, mVISA and UOB have worked tirelessly together to develop its prototype product. This product provides not only mobile banking solutions but also agent banking solutions. For the agent banking solution, mVISA has also signed up Bank of Kigali, the largest commercial bank in Rwanda.

UOB developed and further expanded mVISA product to mHose. mHose includes all mVISA procudes plus interest on savings balances and free life insurance tied to the savings balances. As of September 20th, UOB has signed up 8,000 clients and 80 agents.

mVISA has launched a marketing campaign to establish its brand in the market. For this purpose, it has launched an intensive roadshows in September. Almost everyday, a team appeared in one of the target areas to introduce the products primarily through entertainment shows. UOB and BK followed the mVISA roadshows and signed up clients. Some people came through tough pathways. Here are some photos that show these activities.

 It is exciting to see people start realizing how mVISA can help them in accessing financial services. - Jeffrey

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