Mastercard South Africa
Mastercard Appoints New Country Manager for South Africa
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Mastercard to Begin Phasing Out Magnetic Stripes on its Cards
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Telkom Launches Africa’s First Virtual Banking Card with Ukheshe
Image sourced from My Broadband /* custom css */ .tdi_4_066.td-a-rec-img{ text-align: left; }.tdi_4_066.td-a-rec-img img{ margin: 0 auto 0 0; } Telkom has launched Africa’s first Mastercard virtual card for use on WhatsApp, enabling Telkom Pay customers to make e-commerce payments. This move is expected to empower millions of South Africans – even those without a bank account – to access the digital economy and transact online. Telkom Pay /* custom css */ .tdi_3_64f.td-a-rec-img{ text-align: left; }.tdi_3_64f.td-a-rec-img img{ margin: 0 auto 0 0; } 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 (non-plastic) card to the wallet, users can now make ...
Mastercard Expands Cashless Payment Functionality for Uber MEA
Mastercard has introduced a new initiative focusing on digital payments and advancing financial inclusions for Uber across the Middle East and Africa (MEA). As a regional first, the partnership with Mastercard will enable Uber to drive digitisation across their business operations, leveraging Mastercard’s single infrastructure to meet all types of payments needs across Uber Rides, Uber Eats, Uber Pass, and Uber for Business. It is intended that the partnership will boost cashless payments, drive digital payment acceptance, reward loyalty, while supporting Uber’s continued social impact collaboration. The Economy 2021 report released by Mastercard notes that the economic impact of COVID-19 has introduced permanent changes in digital consumer spending habits, growth of online banking, fintec...
PayCentral and Mastercard Partner to Launch DigiCentral
PayCentral has partnered with Mastercard to launch DigiCentral, a secure online platform that provides small business owners with a simple way of paying out incentives, rewards, gifting, corporate expenses and even salaries to their employees through a prepaid virtual card. The virtual card replaces a physical plastic card and can be used for eCommerce and in-store purchases. To complete a purchase online, DigiCentral virtual cardholders receive a 16-digit card number, security code and expiry date, which they would use much like a physical card. It can be linked to online retail apps like Uber, Uber Eats, Checkers 60 Sixty and others. For in-store purchases, the virtual card can be loaded to any Masterpass-enabled digital wallet. Once loaded, the cardholder can use their mobile phone to s...
Mastercard Partners with Payment24 to Streamline Payment Solutions
Mastercard and Payment24 have partnered to offer a payment solution that will help fleet management companies streamline payments, create efficiencies and prevent fraud. Payment24’s platform will use Mastercard’s payment technology which is expected to enable drivers to quickly and seamlessly make fuel payments anywhere Mastercard is accepted, without requiring additional approvals at the pump. Commercial fleet management companies will have more control and visibility into driver’s spend, with the option to add purchasing controls to eliminate fraud. For instance, a company could opt to enable the driver to pay digitally for border post charges or for accommodation and meals, removing the need for costly and unsafe cash advances. The fuel solution is flexible and adaptable to customer nee...
Mastercard Improves Online eCommerce Security Capabilities
As digital commerce continues to accelerate owing to the COVID-19 pandemic, Mastercard has announced that it will offer new security services to merchants in South Africa. The company says that it hopes this will further protect consumers and increase convenience when storing Mastercard cards in merchant databases. Dubbed Mastercard Digital Enablement Service (MDES) for Merchants, the service uses a security measure known as tokenization to protect, speed up and simplify online and in-app Mastercard card purchases, as well as subscription-based and recurring payments like streaming music, video services, and utility bills. “Online shopping has gained significant traction in South Africa, and it is imperative for merchants of all sizes to ensure that they are offering a convenient, enjoyabl...
Ukheshe Joins Forces with Mastercard and Nedbank in South Africa
Mastercard, Nedbank, and Ukheshe have launched Third-Party Processing Services (TPP) in South Africa which will give everyday businesses access to prepaid and virtual cards. Clayton Hayward, CEO of Ukheshe, says that through Ukheshe’s innovative payment solutions, businesses in South Africa can now issue virtual prepaid cards to employees or customers. Providing recipients with improved financial freedom where they have the option to earn rewards, incentives, and have a secure card that can work anywhere in South Africa while building brand association. Ukheshe will leverage Mastercard Processing, which enables it to launch secure prepaid payments programs to its customers with greater speed, flexibility, and convenience. Through this new relationship, prepaid products will be processed th...
Mastercard and FASTA Launch South Africa’s First Virtual Credit Card
Mastercard has teamed up with FASTA – a digital lending fintech – to launch the FASTACard, South Africa’s first virtual credit card. The FASTACard – backed by Standard Bank and Tutuka – is said to give locals access to instant credit which is loaded onto a secure digital card that can be used online and in-store. This virtual card will help to meet the demand of today’s cash-strapped consumers who are increasingly seeking ‘no contact’ digital payment solutions in the wake of the pandemic. South Africans who choose to apply can select their own credit limit – up to R8,000 – and repayment plan – with up to three instalments paid over four months. Within minutes, the loan application is approved and customers are sent a virtual card which is valid for three years. /* custom css */ .tdi_3_070....
