JOHANNESBURG - Mastercard said on Wednesday South Africans could now buy prepaid utility services or pay their accounts from approximately 600 bill issuers with the new EasyPay mobile app using Masterpass, the global digital payment service from the financial services firm.
The initiative marks a milestone in Mastercard's strategy to displace cash and reduce friction in consumer payments.
EasyPay processes 1.3 million monthly account payment transactions for over 40 traffic authorities, 80 municipalities, and 460 bill issuers including insurance and medical service companies.
The company has recently aggregated all these billers into a mobile app, enabling people to pay their municipal and electricity bills, traffic fines, television licenses, DStv accounts and a wide range of others. They can also buy prepaid electricity, water and gas.
To use the service, South Africans must download the EasyPay Mobile app, register and enter the unique EasyPay number printed on the bill they want to settle. To pay an account or top-up, users tap the Masterpass checkout button and enter their bank card's ATM PIN number to authorise payment. Their account will be updated immediately.