Mastercard, Vodacom Tanzania Plc and BancABC have partnered to introduce Tanzania to its first online card, M-Pesa virtual card.
Hisham Hendi, Vodacom Tanzania Acting Managing Director said introducing the card would open up opportunities for Tanzanians to shop online safely and conveniently. “The introduction of this functionality through the M-Pesa virtual card will revolutionize how people transact by removing the barrier of having bank accounts and risk of putting bank details online.”
In Tanzania, Vodacom’s M-Pesa has over 8.2 million subscribers and over 100,000 agents across the country, according to Mr. Hendi.
The virtual card will allow M-Pesa mobile wallet holders to make payments on any local or international website or app, as long as Mastercard is accepted for payment without the need for a bank account or credit card.
A Vodacom statement read, “Customers can request the virtual card from the M-Pesa USSD menu or soon on the M-Pesa app and top the card up via the wallet. Once the card is topped up with funds, the virtual card is ready for use.”
Mastercard President Sub Saharan Africa division, Raghav Prasad said the rollout is an opportunity in the expanding e-commerce space that is growing due to improved mobile phone internet connectivity.