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Airtel’s pay-online virtual card to spread across Africa
AIRTEL Africa, Standard Chartered Bank and MasterCard Worldwide have launched the world’s first virtual card to enable customers make online purchases on sites which accept Master Cards.
The product, Pay-Online which was launched in Kenya, will spread across Africa.
This is contained in a joint statement released by Airtel Africa vice-president for corporate communications, Michael Okwiri.
Mr Okwiri said the tripartite partnership signals the growing realisations by players in the e-commerce sector of the expected growth in mobile payments and contactless card payments in the next decade.
“Airtel’s consumer penetration in Africa backed by the financial structuring and regulatory framework expertise by Standard Chartered Bank combined with the global acceptance of MasterCard will provide the consumer with a compelling product that is fast, secure and convenient,” he said.
And commenting on the development Airtel Africa chief projects and transformation officer N Arjun said the sustained socio-economic changes witnessed in Africa over the decade have demonstrated the continent’s ability to leapfrog conventional systems and embrace innovations on platforms such as the mobile phone.
“At Airtel Africa, we believe the delivery of innovative and relevant solutions that tackle consumers’ daily challenges play an important role in bolstering a country’s economy through communication and mobile commerce,” he said.
And MasterCard’s area head for East and West Africa and Indian Ocean Islands Daniel Monehin said technology has revolved over the years and resulted in people using mobile phones to purchase various goods and services.
Mr Monehin said MasterCard is committed to work with Standard Chartered Bank and Airtel in promoting electronic payments.
“MasterCard looks forward to working with Standard Chartered Bank and Airtel to promote electronic payments,” he said.
Standard Chartered Bank Kenya, executive director Kariuki Ngari said the bank will continue to provide innovative financial solutions to its customers.
“The Pay Online solution is a unique way of ensuring that our customers can transact in the digital world for the first time without having to have a credit card or use their physical debit card,” he said.
By KALONDE NYATI