Telkom South Africa has dispatched Africa’s first Mastercard virtual card for use on WhatsApp, empowering Telkom Pay clients to easily make and receive online payments.
This move is anticipated to enable a huge number of South Africans easily access today’s computerized economy and make payment transactions from the comfort of their phones..
Dispatched in 2020, Telkom Pay is a computerized digital wallet that empowers its clients to make and get payments on their smartphones via WhatsApp. With the expansion of the Mastercard virtual (non-plastic) card to the wallet, clients will now be able to make payments to local and international online businesses that accept Mastercard disbursements such as Uber and Netflix.
“We are proud to lead the way in launching the first virtual card through WhatsApp on the continent. This ensures greater financial inclusion through affordable products and services that cater to everyone and are easily accessible through a mobile device at any time,” Telkom Managing Executive for Financial Services, Sibusiso Ngwenya, said.
Telkom’s move to bring virtual cards into its Telkom Pay WhatsApp service is a result of close collaboration with Mastercard, Nedbank, and leading fintech enablement partner, Ukheshe Technologies.
“South Africans are progressively shopping on the web, yet numerous individuals are forgotten about as they come up short on the monetary tools required for web-based businesses. This solution bridges the divide by giving consumers instant access to a virtual payment solution through WhatsApp, without compromising the safety and security of transactions,” Suzanne Morel, Country Manager for Mastercard, South Africa said in a statement.
Telkom’s Mastercard virtual card for WhatsApp gives customers the flexibility to shop safely and conveniently using just their smartphone and the Telkom Pay app. Customers simply create a virtual card on their profile, link it to their digital wallet and transfer funds from their wallet to the card. To pay for purchases, users receive a virtual prepaid card – including a 16-digit card number, security code and expiry date, which they use to complete an online purchase much like they would with a physical card.
The virtual card solution is safely stored on the Telkom Pay app and customers can temporarily block, cancel or replace their card via the app, providing them with additional security and control.