• Visa highlights role in Senegal’s digital economy shift under the New Deal Technologique.
• The firm plans to boost inclusion through prepaid cards, mobile money, and secure payments.
• Partnership aims to cut cash use, expand transparency, and support small businesses.

The global leader in digital payments -Visa- held a meeting in Dakar on October 2 with public and private financial sector players in Senegal. The event showcased the company’s expertise and its ambition to drive financial inclusion as part of Senegal’s economic digitalization efforts.

According to Ismahill Diaby (pictured), Visa’s vice president and managing director for Francophone West and Central Africa and Lusophone Africa, the firm today counts more than 4.7 billion physical cards, over 10 billion digital tokens, supporting 150 million merchants and 15,600 financial institutions in over 200 countries. Each year, it processes 310 billion transactions under some of the highest security standards in the financial industry.

In Senegal, Visa envisions a market where every citizen can access secure digital payments, benefit from transparent public and private services, and fully participate in the national economy. The timing aligns with President Bassirou Diomaye Diakhar Faye’s New Deal Technologique, which seeks to transform governance by digitizing public services and encouraging collaboration with private actors and development partners.

A key part of this government strategy is shifting payments for transport, public services, and informal commerce into digital form. Today, a large part of the population remains outside the traditional banking system, limiting their economic participation.

Visa positions itself as a strategic partner to support this modernization, offering prepaid cards, mobile apps without the need for a bank account, and digital tools to pay administrative fees, taxes, and utility bills. The company also aims to support SMEs and informal workers with secure, adapted payment solutions.

“We need to work closely with African governments to understand their realities and provide solutions that match their needs,” said Diaby. “Our goal is to bring our 60 years of expertise in fraud management, transaction security, and digital identity to improve consumer experience across WAEMU countries, and particularly in Senegal.”

Visa’s global infrastructure, VisaNet, processes up to 65,000 transactions per second, or 710 million per day, backed by redundant data centers worldwide and advanced cybersecurity powered by artificial intelligence. Its AI tools instantly detect suspicious activity, predict consumer behavior, and optimize risk management for banks and merchants.

To meet Africa’s specific needs, Visa offers prepaid and one-time-use cards, strong integration with mobile money platforms, and even offline payment solutions in areas with weak connectivity. The company also encourages local innovation, offering fintechs access to its services via APIs and supporting startups through incubation and co-creation programs.

The expected impact of this partnership includes reducing reliance on cash, expanding financial inclusion—especially for rural populations and women entrepreneurs—improving transparency and efficiency in public revenue collection, and creating new opportunities for Senegalese fintech firms.