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Kenya: Airtel Kenya Unveils New Online Payment System: Virtual Credit Card

Airtel's PayOnlineInKenya is touted to be the world's first virtual card that operates off a wallet and residing on a mobile phone. The new system is in partnership with MasterCard Worldwide and Standard Chartered Bank.

Safaricom and I&M Bank also unveiled a service that allows M-pesa customers to transfer money from their accounts to a Visa pre-paid card - M-pesa prepay Safari Card - which can be used globally.

Airtel Kenya on Wednesday unveiled a new online payment system that would see her mobile subscribers use handsets to purchase online.

Dubbed PayOnlineInKenya, the new system is in partnership with MasterCard Worldwide and Standard Chartered Bank. This is touted as the world's first virtual cards that operates off a wallet and residing on a mobile phone.

Safaricom and I&M Bank also unveiled a service that allows M-pesa customers to transfer money from their accounts to a Visa pre-paid card - M-pesa prepay Safari Card - which can be used globally.

PayOnlineInKenya is a single use feature or a one time shopping card that provides the consumer with a convenient and secure online shopping experience. Users in Kenya can make purchases of up to Ksh 35,000.

Each time an Airtel subscriber is shopping online he or she will be able to request a single use shopping card number. Airtel's PayOnlineInKenya service will generate a special 16 digit number that enables the completion of the transaction. On completion of the transaction, a confirmation message will be sent to the customer's mobile phone. The ultimate aim of this service is to allow Airtel subscribers to make payment across the MasterCard network.

According to Airtel's estimate over 80 per cent of adult Africans do not have bank accounts.
The mobile technology platform and Airtel's vast consumer penetration combined with the financial structure and regulatory framework provided by Standard Chartered Bank and the global acceptance of MasterCard will makes the new service attractive.

Source: Business Daily

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