Tigo Money, the FinTech business of Millicom that is revolutionizing financial inclusion with digital technology in Latin America, and Visa, a world leader in digital payments, announced a regional agreement to expand access to digital financial services and drive financial inclusion across Latin America.
Under the agreement, millions of Tigo Money consumers in the region will benefit from a new payment solution – the Tigo Money Visa Card. The card is linked to the consumer’s Tigo Money wallet and allows them to use their digital money easily and securely anywhere Visa is accepted.
The Tigo Money Visa Card can be obtained free of charge via the Tigo Money mobile app. The solution offers a digital onboarding experience and the ability to immediately use funds in the Tigo Money Wallet for convenient and secure online or physical payments. Users will also be able to opt for a physical card to use at more than 80 million merchants worldwide where Visa is accepted. With this partnership, Visa and Millicom target more than 5 million Tigo Money users across the region, bringing more and more people into the financial system.
The Tigo Money Visa Card will also feature contactless payment technology, allowing users to Tap to Pay for day-to-day activities, such as taking public transportation or dining at restaurants. Visa’s partnership with Tigo Money is part of the company’s broader strategy of collaborating with technology companies to provide digital solutions in the pursuit of digital inclusion and to promote cashless economies. Visa continues to work with platforms, FinTechs, digital solutions developers, and startups to co-create the best payment solutions that add value to the ecosystem.
Within Millicom’s purpose of building digital highways that connect people, improve lives, and develop communities, Tigo Money provides comprehensive services that can make this possible, fulfilling its promise to foster financial inclusion through technology in the Latin American region. The alliance with Visa is a prime example of this growth strategy and its potential.