MICT’s Tingo Mobile, Visa launch pan-African strategic partnership

MICT (MICT), through its wholly-owned subsidiary Tingo Mobile, and Visa (V) announced the launch of their pan-African strategic partnership, which aims to improve access to digital payments and financial services, and drive financial inclusion across Africa. The launch of the Tingo Visa card, together with the new TingoPay Super App and the TingoPay business portal, opens significant global opportunities to Tingo’s subscribers, allowing secure cashless payments at more than 61 million merchants in over 200 countries through Visa’s global network, as well as the ability for business subscribers to more readily and securely accept payments from customers and other third parties. Darren Mercer, Chief Executive Officer of MICT, Inc. commented: "I am delighted with today’s launch of our partnership with Visa and the launch of TingoPay, which are hugely significantly events for the Company. Visa is the perfect partner for our pan-Africa roll-out, with their unrivalled reach throughout the continent. In addition to the enhancement of the offering to our core market of agriculture and farming, the launch of our partnership with Visa and our TingoPay super app also expands our B2B offering to SMEs across all business sectors and sees us introduce our first retail consumer offering. This significant expansion is expected to deliver a considerable increase in revenues and make a considerable contribution to our consolidated earnings in 2023 and beyond."