Visa and digital identity company TECH5 have formed a strategic partnership agreement focusing on developing digital government systems globally. The two organisations will propose a roadmap that encompasses a series of initiatives and projects aimed at establishing a robust foundation for advancing digital payments, digital identity management, and other ecosystem-driven services.

The partnership agreement includes: Initiating programmes for financial literacy and digital inclusion; Cooperating in the preparation of regulatory acts for digital payments development; Designing and implementing improved digital government ecosystems in selected countries; Developing a roadmap to expand card acceptance for government disbursements and payment programmes across all platforms; Developing and supporting the Go-to-Market roadmap for a SuperApp and enabling Visa card credentials for citizens and non-residents through multiple digital channels. Officials from Visa said that their joint efforts will concentrate on enhancing digital government ecosystems worldwide, with a special focus on advancing digital payments and digital identity management services. They are committed to digital and financial inclusion, and they believe that this partnership will allow to implement digital ID-based payment infrastructure and services on a national level, thereby unlocking significant market potential.

Secure digital ID solutions in government payments The technology components and identity wallet infrastructure that TECH5 offers globally include biometric SDKs and software platforms for contactless biometric capture and matching, digital ID issuance, and management. They can be readily deployed for integration with Visa payment services and other value-added components that underpin the implementation of digital public infrastructure and ecommerce marketplaces. TECH5 representatives are looking forward to this strategic collaboration with Visa, aiming to develop next-gen digital identity solutions for government payment digitisation.

They are eager to leverage Visa's expertise and jointly work on SSI-based Digital Identity Wallets. TECH5 brings deep understanding of national-level Foundational ID projects and expertise in technology components for secure biometric matching and digital ID solutions. The development of combined Visa and TECH5 offerings unlocks great market potential, allowing for implementation of digital ID-based payment infrastructure and services on a national level as well as in economic zones where services can be implemented cross-border.

What does Visa do? Visa is a prominent player in digital payments, facilitating more than 215 billion payments transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories each year. Their mission is to connect the world through the most innovative, convenient, reliable, and secure payments network, enabling individuals, businesses, and economies to thrive. They believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement.

More information about TECH5 TECH5 Group is an international technology company founded by experts from the biometrics industry, which focuses on developing disruptive biometric and digital ID technology offerings through the application of AI and Machine Learning. TECH5 target markets include both Government and Private sectors with products powering Civil ID, Digital ID, as well as authentication solutions that deliver identity assurance for various use cases. .