Visa, _able and Onafriq join forces to help grow Visa Flex Credential across Central and Eastern Europe, the Middle East and Africa (CEMEA), including the African markets.
The collaboration will enable financial institutions to explore offering credit alongside existing prepaid and debit credentials through a single card.
Visa Flex Credential allows issuers to provide customers with multiple funding sources through one card, potentially giving existing debit and prepaid cardholders access to credit without requiring a separate card.
Under the partnership, _able will provide credit enablement infrastructure, while Onafriq will support payment processing for eligible prepaid card implementations through its pan-African payments network.
The companies say the partnership could help financial institutions simplify the delivery of credit and other financial services while leveraging existing customer relationships and payment infrastructure.
“Visa Flex Credential turns that gap into a channel, and _able provides the infrastructure to activate it responsibly and at scale,” said Jad Abbas, Co-Founder and CFO of _able.
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