- Tigo Money, a provider of telecoms services, has announced that it will be partnering with Visa to help improve access to digital services in Latin America.
- Customers will be able to access their digital cash in environments where Visa is an accepted payment method and will also have the option of a phone payment or a physical card.
- “While most countries in our region continue to operate on a cash-based economy, with accessible digital solutions such as the Tigo Money Visa Card, we are bridging the gap and responding to the needs of the financially and digitally excluded sectors,” said a spokesperson for Visa.
Tigo Money, a provider of telecoms services, has announced that its financial technology arm will partner with Visa.
The partnership with Visa, a big brand in the international money transfer world, aims to improve access to digital services in Latin America.
The new pairing means that customers of Tigo Money in the area will be given a Visa card that is branded with Tigo Money.
Customers will be able to access their digital cash in environments where Visa is an accepted payment method, and there will be no charge to clients who use the card via their mobile phone for mobile payments.
Another choice will be for the customer to get a physical bank card. It is thought that those who go for the latter option will be able to use their card at around 80 million merchant points across the globe.
Overall, the two companies intend for the new product to reach around five million users across the region.
There is also another goal of improving general access to the services via improved inclusion when it comes to participating in the digital economy.
In a statement, a senior figure at Visa said that the new collaboration will give a boost to financial inclusion.
Eduardo Coello, Regional President for Latin America and the Caribbean, said that it will help improve access to the digital economy.
“Our collaboration with Tigo Money is exciting, because it will help bring financial inclusion to a new level, unlocking opportunities to connect more people to the digital economy,” he said.
“While most countries in our region continue to operate on a cash-based economy, with accessible digital solutions such as the Tigo Money Visa Card, we are bridging the gap and responding to the needs of the financially and digitally excluded sectors.”
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