Copia Global, a Kenyan e-commerce startup, has announced a five-year partnership with global payments giant Visa, set to transform the B2C sector in Kenya, particularly for rural and middle-to-low-income consumers. The collaboration will provide a platform for convenient product ordering.
A notable feature of this partnership is the integration of shopping and financial services through a digital wallet. This innovation enables consumers not only to shop and pay but also to save, borrow, and access additional financial services, including credit options and savings features. Copia aims to bring the unbanked population into the financial realm, leveraging Visa’s expertise in contactless payments, remittances, and loyalty solutions. The strategic alliance targets the masses, intending to bridge financial gaps and revolutionize how Kenyans shop and manage finances.
This initiative adds to a growing list of similar projects, such as the “Lipa Later” partnership with MasterCard and Safaricom’s collaboration with AliExpress, aimed at supporting micro-traders and driving financial inclusion in Kenya.
Established in 2013 by Tracey Turner and Jonathan Lewis, Copia operates on a digitally enabled model using local agents as order and delivery points, often trusted shopkeepers. Consumers can choose products from Copia’s catalog and pay locally. After placing an order, Copia swiftly confirms it through SMS, delivering products to the agent within two days for customer pickup. This user-friendly approach caters to both online and offline consumers, reshaping the accessibility and purchase of goods in Kenya.
Visa, a global payments leader operating in over 200 countries and territories, facilitates seamless transactions among consumers, merchants, financial institutions, and governments. Eva Ngigi-Sarwari, Visa Kenya Country Manager, expressed, “Copia’s e-commerce platform provides the perfect springboard for Visa to bring financial services to the mass market. Copia’s network of customers, agents, and delivery sub-contractors will benefit from Visa’s capabilities in contactless payments, remittances, and loyalty solutions.”
A notable aspect of this collaboration is diaspora engagement, allowing natives abroad to remit funds directly into the Copia wallet. This feature enables direct purchases of essential goods and services for their families in Kenya, promoting financial inclusion and support for loved ones.
