TechInAfrica – Telkom now provides Africa’s first Mastercard virtual card which can be used on WhatsApp. This card will allow customers of Telkom Pay to process e-commerce payments.
This action could help millions of people in South Africa to experience the digital economy and online transactions. It will also enable those who do not have a bank account to participate in having Mastercard virtual cards.
Telkom Pay is a digital payment platform established in 2020. It permits its users to process and receive payment using the WhatsApp application on their smartphone.
Telkom Pay users now can process the payment to local and international online stores where Mastercard is available by using the Mastercard virtual (non-plastic) card. Uber and Netflix also accept this payment method.
Telkom Managing Executive for Financial Services, Sibusiso Ngwenya, said, “Telkom is very honored to manage the process in establishing the first virtual card through WhatsApp across Africa. This move guarantees tremendous financial involvement through affordable products and services that cater to everyone and are easily approachable through a mobile device at any time.”
The movement led by Telkom to insert virtual cards within its Telkom Pay WhatsApp service is an outcome of close partnership with Mastercard, Nedbank, and the paramount finance technology enablement partner, Ukheshe Technologies.
The development of service inside Telkom Pay is a vital way forward in increasing access to the digital economy, according to Suzanne Morel, Country Manager for Mastercard, South Africa.
Despite the fact that shopping online is popular among South Africans, many of them still cannot utilize the financial tools needed for e-commerce. This digital-first solution reaches the divide by providing consumers quick access to a virtual payment solution through WhatsApp, without compromising the safety and security of transactions. Telkom Pay with its partners expect that they can assist more people to gain the advantages from the digital economy.
Customers who use Telkom’s Mastercard virtual card for WhatsApp will experience the flexibility to purchase things safely and conveniently using just their mobile phone and the Telkom Pay app.