Telkom launches Africa’s first virtual card for transacting on WhatsApp
Communications company Telkom has launched Africa’s first Mastercard virtual card for use on WhatsApp.
Telkom Pay users can now use WhatsApp to pay any merchant that accepts Mastercard
The new product will enable Telkom Pay customers to make e-commerce payments using the popular instant messaging service.
The move is expected to empower millions of South Africans to access the digital economy and transact online.
Launched in 2020, Telkom Pay is a digital payments wallet that enables its users to make and receive payments using WhatsApp on their mobile phone.
With the addition of the Mastercard virtual card to the wallet, users can now make payments to local and global online merchants that accept Mastercard, including Uber and Netflix.
Telkom managing executive for financial services, Sibusiso Ngwenya, says: “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.”
Telkom’s move to bring virtual cards into its Telkom Pay WhatsApp service is a result of close collaboration with Mastercard, Nedbank and Ukheshe Technologies.
Suzanne Morel, country manager for Mastercard, South Africa, says 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.”
Related: Mastercard launches new initiative to support minority-owned fintech start-ups
