New solution is expected to enhance payments for SMEs across South Africa
Mastercard has collaborated with PayCentral, a fintech in digital payments, to launch the DigiCentral online platform. It provides small business owners with a fast, and cost-effective method to pay rewards, gifts, corporate expenses, and salary to employees with help of a prepaid virtual card.
The virtual card replaces a physical plastic one and can be used for e-commerce and offline purchases. To make a purchase online, DigiCentral virtual cardholders get a 16-digit card number, security code, and expiration date. They can use it in the same way as a physical card. It can be connected to online retail apps like Uber, Uber Eats, Checkers 60 Sixty, and more.
For offline purchases, the virtual card can be loaded into any Masterpass-enabled digital wallet. Cardholders can use their mobile phone to scan the QR code. It is shown at the checkout of retailers and billers who accept Masterpass payments in South Africa.
We’ve reported that Mastercard and Bank of Kigali have launched a new campaign to encourage cashless payments.