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....