Telecommunication company Telkom has announced that it launched Mastercard virtual cards to be used on WhatsApp for its Telkom Pay customers enabling them to make e-commerce payments.
Telkom Pay is a digital payments wallet that enables its users to make and receive payments using WhatsApp on their mobile phones.
The virtual card to Telkom Pay will enable users to make payments to local and global online merchants that accept Mastercard, including Uber and Netflix.
According to Telkom, this move will empower millions of South Africans, even those without a bank account – to access the digital economy and transact online.
Telkom Financial Services managing executive Sibusiso Ngwenya said: “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.”
The company said its move to bring virtual cards into its Telkom Pay WhatsApp service resulted from a close partnership with Mastercard, Nedbank, and leading fintech enablement partner, Ukheshe Technologies.
Mastercard, South Africa country manager Suzanne Morel said: “The expansion of Telkom Pay’s services is an important step forward in improving access to the digital economy. South Africans are increasingly shopping online, yet many people are left out as they lack the financial tools needed for e-commerce.
“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.”
According to the company, the virtual card solution is available 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.
Ukheshe CEO Clayton Hayward said: “We are thrilled to assist Telkom in making new, innovative products possible, and look forward to continuing our journey of supporting clients in their efforts to offer cutting-edge payment solutions to people who need them most.”
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