Visa has launched new smartphone payment features for its Visa Accept and Visa Direct platforms, enabling small businesses to send and receive digital payments without additional hardware.

• 99% of surveyed small and medium-sized businesses use at least one digital financial tool, with 85% reporting positive business impacts.
• Visa Accept transforms a smartphone into a payment terminal, while Visa Direct allows businesses to send payouts like employee wages and customer refunds.
• The new capabilities aim to reduce payment friction, allowing businesses to focus more on customer experience, with Co-op Bank Kenya expected to launch Visa Accept soon.