Visa turns smartphones into payment hubs as digital tools target small businesses
Visa Inc. has unveiled new digital payment solutions aimed at transforming smartphones into powerful payment tools for small businesses, as the global financial services giant moves to simplify how merchants accept and send money in emerging markets.
Visa introduced new capabilities under Visa Accept and Visa Direct, innovations designed to help micro sellers, informal traders and growing businesses manage digital payments using only their smartphones without the need for additional hardware.
The latest move is expected to significantly boost financial inclusion by helping small businesses, particularly in developing economies, transition into digital commerce more easily.
Smartphones replacing traditional payment terminals
According to Visa, the new Visa Accept feature allows merchants to turn ordinary smartphones into payment terminals capable of receiving card payments directly through Visa debit or prepaid accounts.
Customers can make payments by simply tapping their cards or using payment links, with funds reaching sellers’ accounts almost instantly.
“Every tap, scan and swipe is now a defining moment in the customer relationship, and small businesses can’t afford for payments to get in the way,” said Shahebaz Khan.
He added that the company envisions a future where business owners only need a smartphone to run all payment operations.
“We see a future where a single smartphone is all a seller needs to accept any way customers want to pay, gain powerful insights and confidently run their business,” Khan said.
Kenya among next markets for rollout
Visa revealed that the technology is already operational in more than 25 countries, with Kenya among the next markets scheduled for rollout.
Co-operative Bank of Kenya is among financial institutions expected to begin launching the service in coming weeks alongside banks in Ghana.
The company says by 2027, millions of merchants globally are expected to access the platform.
Faster business payouts through Visa Direct
At the same time, Visa announced upgrades to Visa Direct, a real-time money transfer platform allowing small businesses to send instant payments directly from smartphones.
The feature will enable business owners to pay workers, contractors and suppliers, issue customer refunds and move funds across borders using connected bank accounts, cards or digital wallets.
Visa noted that demand for digital finance tools continues to grow rapidly, with its latest global survey showing 99 per cent of small businesses already use at least one digital financial tool, while 85 per cent say such tools have improved business performance.
The company says the innovation is part of a broader push to expand digital payment access for millions of small businesses worldwide, especially in emerging economies where smartphones are increasingly becoming the primary tool for commerce.
