Visa, a global leader in digital payments, is celebrating the one-year anniversary of its Innovation Studio in Nairobi. The studio, located in the heart of Kenya’s vibrant start-up ecosystem, has played a pivotal role in driving Visa’s innovation agenda and promoting the adoption of digital payments in the Sub-Saharan Africa (SSA) region.
Visa’s innovation strategy is centered around the belief that digital payments should be as simple, secure, rewarding, and convenient as traditional physical payments. With a staggering $17 trillion still being transacted in cash and checks globally, Visa sees a tremendous opportunity to accelerate the adoption of digital payments worldwide.
Over the past few years, Visa has transformed its platforms and collaboration methods with partners and clients to foster the expansion of the commerce ecosystem. However, their focus remains unchanged, aiming to empower clients and partners by providing them with access to Visa’s network, products, tools, and expertise to foster growth and success.
The objective of the Innovation Studio in Nairobi is to co-create the next generation of commerce experiences and drive the widespread acceptance of digital payments. Its primary areas of focus include:
- Accelerating digital issuance
- Empowering small merchants, and
- Developing and deploying innovative technologies like scan-to-pay.
By bringing together Visa’s clients and partners in the SSA region, the Innovation Studio serves as a hub for collaboration, co-creation, and exploration of the future of commerce. It offers an environment where employees, clients, and partners can seamlessly work together to develop solutions, enhance user experiences, and exchange ideas.
Since its launch one year ago, the Innovation Studio has witnessed impressive achievements. It has engaged 1,520 participants from diverse backgrounds, facilitated 116 partner engagements with players across the payments landscape, and hosted 19 co-creations, design sprints, and discovery sessions. Additionally, three pilot projects and proof-of-concepts have been successfully conducted, further solidifying Visa’s commitment to innovation.
Table summarizing the achievements of Visa’s Innovation Studio in Nairobi:
| Achievements | Details |
|---|---|
| Number of Participants Engaged | 1,520 participants |
| Partner Engagements | 116 engagements with players across the payments landscape from 24 countries |
| Co-creations, Design Sprints, and Discovery Sessions | 19 sessions conducted for co-creation, design sprints, and discovery |
| Pilot and Proof of Concepts | 3 successful pilot projects and proof-of-concepts |
These achievements demonstrate the Innovation Studio’s success in driving collaboration, innovation, and the adoption of digital payments in the Sub-Saharan Africa region.
The Innovation Studio provides a range of offerings and engagements for its visitors. These include the Innovation Experience, where participants can explore key trends, technologies, and Visa’s capabilities driving innovation, both virtually and in-person. Discovery sessions allow in-depth exploration of key innovation themes, fostering the development of a joint innovation roadmap. Co-creation sessions facilitate digital product development sprints, resulting in user-validated prototypes, solution architecture, and a path to pilot. Moreover, the studio offers design expertise for rapid prototyping, workshops, and user experience (UX) validation. The UX Health Check service utilizes psychometric tests to assess current UX journeys, identifying gaps and opportunities for improvement.
Visa’s Innovation Studio in Nairobi has undoubtedly made significant strides in shaping the future of commerce in the SSA region. By fostering collaboration, co-creation, and exploration, it has facilitated the development of innovative solutions and enhanced digital payment experiences. As Visa continues to drive its innovation agenda, the studio remains a critical hub for empowering individuals, businesses, and economies in their journey towards a thriving digital economy.
