MICT (NASDAQ: MICT), through its wholly owned subsidiary Tingo Mobile, and Visa (NYSE: V), the global leader in digital payments, have 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 (consisting 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. “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,” said Darren Mercer, CEO of MICT. “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.”
To view the full press release, visit https://ibn.fm/vs443
About MICT Inc.
MICT is a global fintech and agri-fintech group of companies with operations in Africa, Southeast Asia and the Middle East. MICT’s wholly owned subsidiary, Tingo Mobile, is the leading agri-fintech company operating in Africa, with a comprehensive portfolio of innovative products, including a ‘device as a service’ smartphone and pre-loaded platform product. As part of its globalization strategy, Tingo Mobile has recently begun to expand internationally and entered into trade partnerships that are contracted to increase the number of subscribed farmers from 9.3 million in 2022 to more than 32 million, providing them with access to services including, among others, the Nwassa ‘seed-to-sale’ marketplace platform, insurance, micro-finance, and mobile phone and data top-up. MICT’s other Tingo business verticals include: TingoPay, a SuperApp in partnership with Visa that offers a wide range of B2C and B2B services including payment services, an e-wallet, foreign exchange and merchant services; Tingo Foods, a food processing business that processes raw foods into finished products such as rice, pasta and noodles; and Tingo DMCC, a commodity trading platform and agricultural commodities export business based out of the Dubai Multi Commodities Center. In addition to its Tingo business verticals, MICT also holds and operates an insurance brokerage platform business in China, with 130+ offices located in China’s cities and major towns; and Magpie Securities, a regulated finance services Fintech business operating out of Hong Kong and Singapore. For more information visit www.MICT-inc.com.
About InvestorWire
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.
As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.
For more information, please visit https://www.InvestorWire.com
Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer
InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
[email protected]
InvestorWire is part of the InvestorBrandNetwork