The $100m acquisition of cellphone company Fundamo by Visa with allow them to "accelerate the execution" their global mobile payments strategy. Visa bought the Cape Town-based company in a cash deal in order to get at their estimated 5 million reigistered users across Africa, Asia and the Middle East as well as the potential to rach over 180 million more.
Bill Gajda, Visa's head of global mobile products, said that the aim is for customers to be able to process financial transactions "wherever and whenever they choose, using a card, a computer or a mobile device".
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