Visa, digital payments provider, and mobile financial services firm Branch have announced a partnership under which Branch will offer financing to merchants who accept payment via Visa (Visa on mobile or Card).
The Branch loans will provide merchants with funds to grow their business through supplemental stock, infrastructure investment, and other key operational needs. Loans will be disbursed directly to the merchants’ phones.
Through this partnership, Visa and Branch aim to reduce the cost of cash for the qualifying merchants. The eligible merchants will be able to access loans of up to Ksh 30,000 ($300) which can be repaid within 6 months.
Branch is a machine learning-powered provider of mobile financial products across Africa and Latin America, with plans to expand to Asia. Branch helps unlock financial access for clients around the world and is currently one of the most popular financial app in Africa.
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