SOUTH AFRICA — Telecommunications Company Telkom has launched new MasterCard Virtual cards which will be used on WhatsApp to enable users customers make e-commerce payments.
Telkom pay is a digital payment wallet that allows users make money transactions through WhatsApp on their mobile phones.
Addition of the new virtual MasterCard will now enable users to make payments to local and global online merchants that accept MasterCard including Uber and Netflix.
The virtual card is available on the Telkom app and customers can temporarily block, cancel or replace their card via the app thus providing an additional security and control.
Customers will also be able to shop using their phones and the Telkom pay app by creating a virtual card on their profile, link it to their digital wallet and transfer funds from their wallet to the card.
Those without bank accounts will also be able to access the digital economy and transact online.
Introduction of the new MasterCard follows a collaboration between MasterCard, Nedbank and Ukheshe Technologies.
“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.” Said Sumbiso Ngweya, Telkom Financial Services Managing Executive.
MasterCard South Africa country manager Suzanne Morel said that Telkom’s expansion of pay services would improve access to the digital economy since many people who lack financial tools for e-commerce are left out.
“This digital-first solution bridges the divide by giving consumers instant access to a virtual payment solution through WhatsApp, without compromising the safety and security of transactions. Together with our partners, we are helping more people to benefit from the choice and flexibility that a growing, inclusive digital economy brings.”