Empowering Small Businesses through Technology
Visa has entered into a strategic partnership with littlefish, an omni-channel platform that provides financial institutions with innovative business solutions aimed at supporting micro, small, and medium-sized enterprises (MSMEs) across Africa. This collaboration is designed to streamline both in-store and online operations for small businesses through advanced digital services and value-added offerings.
Addressing the Cash Dominance in African Markets
Despite the global shift towards digital payments, a large portion of day-to-day transactions in Africa is still conducted in cash. This emphasizes a growing demand for more accessible and efficient digital payment systems, especially for MSMEs. The Visa-littlefish partnership aims to address this gap by offering innovative solutions that enable financial institutions to drive digital transformation among African MSMEs.
A Comprehensive Suite of Business Solutions
Through the partnership, littlefish will offer merchants a wide range of payment solutions, including traditional point-of-sale (POS) systems, mobile POS, Tap2Phone, and e-commerce channels. Additionally, the platform will integrate value-added services that help businesses streamline their operations and expand their market reach.
"This partnership enables us to offer MSMEs a seamless way to enhance their business operations with a comprehensive range of solutions," said Meagan Rabe, Visa’s Head of Fintech for Sub-Saharan Africa. "We are excited about creating new opportunities for businesses to leverage technology and innovative solutions, ensuring their growth in an evolving market."
Revolutionizing MSME Operations
Brandon Roberts, Co-founder and CEO of littlefish, highlighted the impact of this collaboration, stating, “Our partnership with Visa is set to revolutionize the way small businesses operate. By delivering a seamless, cost-effective digital platform, we are empowering financial institutions to support sustainable growth in the MSME sector."
Roberts emphasized the strength of the partnership, saying, "Combining our expertise with Visa’s global reach will help businesses in South Africa and beyond unlock their full potential. We’re offering a complete solution that streamlines operations and delivers powerful, value-added services to drive growth."
Strengthening MSMEs Across Africa and Beyond
Visa and littlefish’s partnership is not only set to make an impact in South Africa but also aims to extend into other regions, such as Central and Eastern Europe, the Middle East, and Africa (CEMEA). With littlefish’s strong presence in South Africa and successful partnerships with major financial institutions, the collaboration will now enable the rollout of these solutions across new markets.
Visa will implement its CyberSource solution to enhance secure payment processing for both point-of-sale and e-commerce transactions. This system will also pave the way for future services, such as lending products, remittance flows, loyalty programs, and secure payment gateways, enabling MSMEs to access a comprehensive suite of tools to grow their businesses.
Driving Digital Transformation for MSMEs
As Visa and littlefish combine their strengths, the partnership seeks to drive digital enablement and growth for millions of MSMEs across Africa and beyond. Their collaboration aims to not only simplify payment processes but also to equip financial institutions with the tools necessary to support small businesses in a fast-evolving digital economy.
"By making digital solutions accessible and efficient, we’re enabling MSMEs to thrive and contribute to the broader economic development of Africa," added Rabe. This partnership marks a significant step towards digital transformation for small businesses, unlocking new opportunities for growth and competitiveness in the region.
