Technological change and the rise of competitors are creating significant disruption in the traditional consumer-merchant payments space, which Visa and Mastercard have grown to dominate. However, these behemoths are not standing still and have pursued an aggressive policy of acquisition and investment to complement their significant in-house development efforts. These efforts are acting to bolster their core business and simultaneously evolve and expand their offerings.
Visa partnership with the Paga, a Nigerian FinTech payments player, was just another move by Visa in its global expansion plans.
