Almaty, September 4, 2024 — Solva, one of the leading fintech companies in Kazakhstan, is joining forces with Visa, a global leader in digital payments. The partnership aims to accelerate the digitalization of financial services.
For Visa, this is the first time signing a strategic partnership with a microfinance organization in the Republic of Kazakhstan.
Evgeny Lesnyak, Senior Director of Strategic Partnerships at Visa for Ukraine, Georgia, CIS countries and Southeast Europe: «The strategic agreement with Solva is an important milestone in the development of financial services in Kazakhstan. In the future, the company intends to transform into a second-tier bank and strengthen its efforts in digitalizing products for small and medium-sized businesses. We are pleased to support this process by providing more than one million Solva customers with access to Visa technologies, enabling faster, more convenient, and secure payments. Through the integration of advanced Visa technologies, Solva clients will gain access to all its services. Contactless payments based on Visa’s innovative solutions will allow users of Solva’s financial services to make transactions even faster and more securely.
The partnership between Solva and Visa represents a significant step forward in the development of financial services digitalization in Kazakhstan. Visa’s globally recognized expertise in digital payments will contribute to financial inclusion and enhance the customer experience.
Konstantin Barabanov, CEO of Solva Group Ltd.:«The partnership with Visa opens new horizons for Solva and our clients in Kazakhstan. We are confident that our joint efforts will allow us to expand the range of payment services for users of our digital cards, reduce transaction costs for entrepreneurs, and introduce modern payment methods for goods and services for businesses and their customers. Our partnership also provides access to Visa’s extensive global experience in working with small and medium-sized businesses — Visa is often a key driver in the implementation of digital payment solutions for SMEs. We believe our cooperation will help make financial services more accessible and convenient for more than one and a half million entrepreneurs across the country».
About Solva
Solva (JSC MFO «OnlineKazFinance»), recognized as «Fintech of the Year» in Kazakhstan in 2023, is a leader in the unsecured non-bank financing market and offers digital financial products for micro, small, and medium-sized enterprises, as well as individuals. The company uses machine learning and modern data science tools to provide financing to MSMEs for working capital and investment purposes. Founded by former investment bankers Boris Batin and Alexander Dunaev, Solva has provided more than 85 billion tenge in financing to SME clients in Kazakhstan. At the end of 2023, Solva closed an investment deal worth $20 million. The main investors were the Sawiris family, owners of the international conglomerate Orascom, together with partners from the ZCP fund.
About Visa
Visa (NYSE: V) is a global leader in digital payments. Visa facilitates payment transactions between consumers, businesses, financial institutions, and governments in more than 200 countries and territories. Its mission is to connect the world through an innovative, convenient, reliable, and secure payment network to enable prosperity for consumers, businesses, and economies. Visa believes that expanding access to the economy for all people will help improve global well-being and form the foundation of future money movement. More information: Visa.com.kz: Visa.com.kz.
[1] https://solva.kz/news/kompaniya-solva-priznana-finteh-kompaniej-goda-na-mezhdunarodnom-forume-digital-almaty-2023/
[2] [2] Solva получила награду «Финтех года» на церемонии Digital Almaty Awards 2023..
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