Malaysia's digital economy to hit US$48bil: Google, Temasek and Bain & Co
KUALA LUMPUR: Malaysia’s digital economy is projected to grow 20 per cent to US$48 billion (RM196 billion) in gross merchandise value (GMV) this year, matching Vietnam as Southeast Asia’s fastest-growing digital market.
Visa has welcomed the introduction of Google Pay in Nigeria, enabling eligible Visa cardholders of participating financial institutions to securely use their cards for digital payments. This move comes as part of Visa’s collaboration with Google, which aims to provide a fast, secure, and seamless payment experience to Nigerian consumers.
Eligible Visa cardholders can now add their cards to Google Wallet and make payments at millions of contactless acceptance points and online merchants. Google Pay leverages tokenization technology, which replaces card numbers with unique digital tokens during transactions, enhancing security while maintaining convenience. The partnership between Visa, Google, and Nigerian financial institutions is geared towards promoting contactless payment adoption and supporting digital commerce, financial inclusion, and Nigeria’s burgeoning digital economy.
Andrew Uaboi, Visa’s Vice President and Cluster Head for West Africa, expressed satisfaction with the launch, stating that it aligns with Visa’s commitment to delivering secure and innovative payment solutions. Olumide Balogun, Google’s Country Director for West Africa, highlighted the market's leadership in financial innovation and the potential for Google Wallet to make daily transactions faster and safer, reducing the need for physical cards.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
