Mobile operator Telkom has launched a new Mastercard virtual card for use in WhatsApp transactions via Telkom Pay.
Telkom Pay was launched last year and already enables its customers to send and receive payments via WhatsApp on their smartphones.
The virtual card adds another option for customers to make payments to local and international e-commerce merchants that accept Mastercard, including Netflix and Uber.
“We are proud to lead the way in launching the first virtual card through WhatsApp on the continent,” Telkom‘s Managing Executive for Financial Services, Sibusiso Ngwenya, said.
“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 new service comes out of the company’s partnership with Mastercard, Nedbank and fintech firm Ukheshe Technologies.
How Telkom Mastercard virtual card for WhatsApp works
To use Telkom’s Mastercard virtual card for WhatsApp, you will of course need your smartphone along with Telkom Pay and WhatsApp apps downloaded on it.
Next, create a virtual card on your Telkom Pay profile, link it to your digital wallet and transfer funds from your wallet to the card, which has a 16-digit number, security code and expiry date.
To pay for purchases, use the card to complete an online purchase the same way you would use a physical card.
The virtual card solution is stored securely on the Telkom Pay app and you can temporarily block, cancel or replace your card via the app, giving you greater security and control.
“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,” Ukheshe CEO Clayton Hayward said.
“South Africans are increasingly shopping online, yet many people are left out as they lack the financial tools needed for e-commerce,” Mastercard SA’s Suzanne Morel added.
“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.”