Digital financial practices are evolving in Senegal. This Friday, January 23rd, Wave officially launched its virtual Visa card, the result of a partnership with Ecobank Senegal and the Visa network. This initiative is part of a broader trend toward transforming payment methods, at a time when online transactions are playing an increasingly important role in daily life.

Designed entirely digitally, the Wave virtual Visa card integrates directly into the app already used by millions of users nationwide. It is presented as a tool to facilitate online payments for individuals, while supporting the growth of e-commerce and digital services. The absence of a physical card also aims to eliminate certain constraints associated with traditional access to banking services.

At the launch ceremony, the Managing Director of Wave Senegal, Elhadji Malick Guèye, outlined the framework of the partnership established with the two financial institutions. "First and foremost, allow me to thank our partners, namely Visa and Ecobank Senegal, with whom we have established a partnership to offer this virtual card. This virtual card is designed to be secure, because today we are giving our trusted users the opportunity to benefit from a payment method, but above all, to maintain control over it," he stated.

According to him, one of the benefits of this solution lies in the autonomy it offers users. "Today, they have the ability not only to activate and reactivate their card in the blink of an eye, but above all to be able to control when it is active and when it is not, so that they can subscribe to online platforms, carry out online transactions, but above all, enjoy total autonomy," he explained.

Wave's value proposition also appears to rely on a specific pricing policy. "Today, our value proposition lies at this level, especially since we offer it without fees, meaning no acquisition fees, no maintenance fees, no transaction fees, and with today's exchange rates which are extremely competitive," explained Elhadji Malick Guèye.

When asked about Wave's motivations for investing in e-commerce, the CEO indicated that this move is consistent with the company's strategy. "You know, Wave's ambition is to meet the needs of Senegalese men and women, sector by sector," he stated. He added, "Just a few months ago, we were working specifically on the mobility sector, where we truly helped to modify, or at least transform, daily life. And now, we're tackling e-commerce."

This approach, he explained, is based on constantly listening to users: “Once again, the idea is to be able to meet the day-to-day financial transaction needs of Senegalese men and women, and that’s precisely where we strive to make a difference.” The managing director elaborated: “First, by listening to the needs of our users, and then by responding to them in the best possible way.”

Security plays a crucial role in the adoption of online payments. The Wave virtual Visa card incorporates protective measures, including 3D Secure authentication, to limit the risks of fraud and unauthorized use. This technological aspect is accompanied by an awareness campaign focused on best practices, personal data protection, and the responsible management of digital payment methods.

In this regard, Elhadji Malick Guèye mentioned the work carried out with several institutional stakeholders. "With the OQSF and consumer associations, we traveled throughout the country to raise awareness," he stated. He assured that this approach would continue to ensure the safe use of the virtual card.

Risk assessment was also discussed during the exchanges with the press. "I think that today, whether it's us, our partner Visa, or our partner Ecobank, we are all regulated entities," stated Elhadji Malick Guèye. He reiterated the role of the regional regulator, noting: "Particularly in the West African region, we have the Central Bank, which we thank because they have truly contributed to putting all these mechanisms in place."

For its launch, Wave opted for a virtual rather than a physical map. This strategy was explained by its CEO: "You know, the virtual map allows us to overcome the limitations associated with physical maps (...) The virtual map is an extension of what we already offer in our application."

He emphasized the risks associated with loss or theft: "If you currently have your physical card, you may be at risk of it being stolen or lost, whereas with a virtual card, you have all the phone's features that allow you to activate, reactivate, or deactivate it." He added that in the event of a lost phone, access remains dependent on the locking mechanisms, while reminding customers of the availability of customer service, reachable at 200 600.

From Ecobank Senegal's perspective, the Director of Operations and Technology, Sokhna Nafissatou Touré, detailed the bank's contribution to this partnership. "So, Ecobank's role in this partnership, to summarize, is to provide virtual cards marketed by Ecobank," she explained. She specified that these cards are made available through the collaboration established with Wave.

According to her, the main objective is to broaden access to financial services. "The goal is to reach a wider target population and support them in meeting customer needs," she stated. Sokhna Nafissatou Touré also highlighted the strategic importance of this partnership. "It was yet another opportunity for us to demonstrate that we can work with technical partners, market secure and reliable products that provide users with a unique experience," she affirmed.