Visa, TECH5 team up to enhance digital government ecosystems

Updated 12/19/2023 12:15:00 PM

Arab Finance: Visa has signed a strategic partnership agreement with TECH5 to develop and improve digital government ecosystems on a global scale, according to an emailed press release.

Both entities will jointly work on setting a roadmap that encompasses a series of initiatives and projects aiming at establishing a solid foundation for advancing digital payments, digital identity management, and other ecosystem-driven services.

The partnership agreement covers designing and implementing improved digital government ecosystems in selected countries.

The collaboration also covers developing and supporting the go-to-market roadmap for a SuperApp and enabling Visa card credentials for citizens and non-residents through multiple digital channels.

Moreover, the two organizations will set a plan to expand card acceptance for government disbursements and payment programs across all platforms.

They will also initiate programs for financial literacy and digital inclusion, as well as cooperate on the preparation of regulatory acts for digital payments development.

"We are committed to digital and financial inclusion, and we believe that this partnership will allow to implement digital ID-based payment infrastructure and services on a national level, thereby unlocking significant market potential,” Shahebaz Khan, Senior Vice President, Head of Commercial and Money Movement Solutions, Visa CEMEA, said.

“The TECH5 team is delighted to bring to this partnership deep understanding and implementation expertise of Foundational ID projects at a national level, as well as technology components and infrastructure that support biometric matching, digital ID, and identity wallet solutions for frictionless and secure payments,” Machiel van der Harst, TECH5’s Co-founder and CEO, commented.