Telkom has launched Africa’s first Mastercard virtual card for use on WhatsApp. This will enable Telkom Pay customers to make e-commerce payments. This move is expected to empower millions of South Africans – even those without a bank account – to access the digital economy and transact online.
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.
Launched in 2020, Telkom Pay is a digital payments wallet that enables its users to make and receive payments using WhatsApp on their mobile phones. With the addition of the Mastercard virtual (non-plastic) card to the wallet, users can now make payments to local and global online merchants that accept Mastercard, including Uber and Netflix.
>> Read About: Telkom Pay: How payments over WhatsApp work
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.