South Africa fintech Ukheshe launches prepaid payments platform


Ukheshe Technologies launched it’s Third-Party Processing Services in South Africa. The payments platform achieved this through a partnership with Nedbank and MasterCard. The announcement by the fintech startup gives businesses access to prepaid and virtual cards, normally reserved for large enterprises

Ukhehe CEO, Clayton Hayward narrates how South African businesses can benefit from its new innovative payment solution. Businesses can issue their customers and employees with virtual prepaid cards empowering the employees with financial freedom where they are at liberty to earn rewards and incentives from a secure card that can work anywhere in the country.

Ukheshe will bank on MasterCard processing to deliver speed, convenience, and flexibility. This new relationship will ensure pre-paid products are processed through MasterCard’s platform representing world-class processing solutions that offer maximum security. Businesses are in a position to expand their payment portfolios across multiple channels at minimal investment.

According to Howard, the new features will, “a path to financial inclusion to the underserved” and offer “a more secure and trackable way to pay for things.”

“We are very excited to partner with Ukheshe and Nedbank to lead the transition to digital, enabling even more people to make safe and convenient online and in-person payments,” Suzanne Morel, MasterCard country manager.

“Nedbank is committed to harnessing our digital leadership position to deliver significant value to our clients by enabling them to develop good money behaviors and maximize the benefits their finances can unlock in their lives,” said Chipo Mushwana, the Divisional Executive of Emerging Payments, Nedbank.


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