axis, a digital payments platform for small businesses, has launched its services in partnership with Visa, a global leader in digital payments. With a license from the Central Bank of Egypt (CBE), axis introduces an open-loop mobile wallet, offering a digital banking alternative for small businesses and their employees.
This initiative aims to digitize payroll, benefiting up to 8 million small and micro businesses and their 20 million employees and contractors, allowing instant salary transfers onto the axisPay mobile wallet.
Moreover, small businesses can streamline payments to employees and suppliers digitally, including salary transfers, expense reimbursements, and earned wage advances. The axisPay mobile wallet provides a range of financial services, enabling users to send and request money, pay bills, shop online with a virtual Visa card, and make in-person payments by scanning QR codes.
Jacques Marco, axis Founder & CEO, highlights the importance of financial inclusion for small businesses in Egypt and aims to expand axis into a comprehensive digital banking platform.
Sawari Ventures, a leading Venture Capital fund, expresses confidence in axis’ potential to drive financial inclusion and economic growth.
Visa’s Country Manager for Egypt, Malak El Baba, emphasizes the partnership’s focus on enhancing customer experience and leveraging Visa’s secure global payments infrastructure.
axis empowers small businesses with simplified digital payments, while Visa continues its mission to connect the world through innovative and secure payment solutions.
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