Visa and Mastercard are setting their sights on Africa’s fintech market. Africa’s booming fintech sector E-commerce is booming across the continent. The Wall Street Journal reports that by the end of this year, an estimated 435 million Africans are expected to shop online, a nearly twofold increase since the pandemic. However, people are less likely to make payments using cards than in other global markets, relying instead on mobile money, digital wallets, and bank transfers. Visa and Mastercard, determined to stay relevant, are pouring millions of dollars into the continent
Global payments giant Visa is partnering with the UK government’s Department for Science, Innovation and Technology (DSIT) to co-fund data science and AI scholarships for students from underrepresented backgrounds. The partnership stems from the UK’s National AI Strategy, which set out a vision to strengthen the UK’s position as an AI and science superpower over the coming decade. The Launch of Visa’s AI Scholarships The partnership aims to increase diversity in the technology sector, assisting women, Black students, disabled students, and those from lower socioeconomic backgrounds. Visa said the scheme
Uber and Visa have announced Grants for Growth, a program that will provide $1 million in grant funding to small businesses in 10 US cities that are currently active on Uber Eats. The program will be administered by the Local Initiatives Support Corporation (LISC). Focused on restaurant recovery and entrepreneurship, the program was created to support merchants when they need it most. “We know that this year has been trying for many and that independently-owned businesses continue to face significant business challenges. From natural disasters to the impact of the COVID-19 pandemic,
