New financing and strategic partnership with Visa will fuel global financial inclusion
San Francisco, April 8, 2019 – Branch, the most downloaded finance app in Africa, announced a new global partnership and investment from Visa (NYSE: V). The two companies share a vision of bringing financial access to billions of people still unreached by banks. Visa’s investment in Branch will help expand financial access across the African continent while fueling new expansion in India and Latin America.
Branch and Visa will team up to offer virtual prepaid debit card numbers to customers around the world. This enables unbanked Branch customers the option to receive credit at any physical ATM, bypassing the need for a bank account.
“We started Branch in Kenya, where M-Pesa gives anyone with a phone — including the unbanked — access to digital credit. Unfortunately, mobile money isn’t available in most countries. With the help of Visa, now we can send cash to any ATM and reach the underserved around the planet,” says Matthew Flannery, CEO, and co-founder of Branch.
Traditional barriers such as a credit score and bank account make financial …read more