Telkom Pay has launched Africa’s first Mastercard virtual card that can be used on WhatsApp, enabling customers to make digital payments.
Telkom has launched the virtual card through a collaboration with Ukheshe, Mastercard, and Nedbank.
No ad to show here.
According to Telkom, this will enable more locals to make e-commerce transactions — with or without a bank account. Users will be able to load their virtual card on sites and apps that require card payments and accept Mastercard. This includes Uber and Netflix.
Telkom Pay is a digital payments wallet that lets users make and receive payments using WhatsApp. It doesn’t require a bank account to use.
“We are proud to lead the way in launching the first virtual card through WhatsApp on the continent,” Telkom Managing Executive for Financial Services, Sibusiso Ngwenya, said in a statement.
“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.”
How the virtual card in Telkom Pay works
So how does the new virtual card feature work?
The virtual card is stored on the Telkom Pay app. Rather than acting as a debit or credit card, it will be a virtual prepaid card with a set value.
Customers will create the virtual card on their profile in the Telkom Pay app. You then link this card to your digital wallet and transfer funds from the wallet to the card.
When you want to pay for a purchase, you will use the 16-digit card number, security code, and expiry date provided for the virtual card to complete an online purchase.
For security, you can temporarily block, cancel, or replace the card in the app.
Feature image: Supplied
Read more: App that lets you send and receive money without a bank launches in SA
