Mpesa, Safaricom’s mobile phone-based money transfer service, has created a Virtual Mpesa Visa Card that allows customers to make international payments online.
Users will now be able to make payments on e-commerce sites like Amazon, send money overseas, and make cross-border payments, according to a collaboration between the two firms planned for 2020. After two years, the product is finally available to millions of Kenyans.
Millions of people will be able to make paperless, seamless, more inclusive, and most importantly, secure payments using their cards.
Customers can activate the card by selecting M-PESA GlobalPay under the “Pay” or “Grow” option on the M-PESA App. They can also use *334# to activate it, then choose option 6 for “Lipa Na M-PESA” and then “M-PESA GlobalPay.”
Corine Mbiaketcha, Visa Vice President and General Manager for East Africa, said during an event at the Ole Pejeta Conservancy in Nanyuki that the company is committed to extending the payment environment in Africa, with the cooperation with Safaricom being a reality.
“Safaricom has changed how money moves in Kenya. We are thrilled to be working together to build new and innovative payment products and services that will help merchants and customers across Africa overcome barriers in global trade,” said Corine.
Visa, the world’s largest payment company, wants to make it possible for consumers to transact globally from their homes.
Najib Balala, Cabinet Secretary for Tourism, praised the virtual card’s innovation for allowing businesses in the hospitality, lodging, food, and beverage sectors to expand and grow, particularly with Covid 19, which has taught us how to use cashless payments.
Tourism is a significant industry that accounts for 10% of GDP and 9% of jobs, and we now want to work with the private sector to expand and thrive, and global payments have made this possible.
“M-PESA has over the past fifteen years evolved from a simple money transfer service to become a robust payment platform and driver of financial inclusion for Kenyans. This has paved the way for numerous innovative services, and by partnering with Visa to provide the M-PESA GlobalPay Visa virtual card, we are looking to bridge the gap for our customers who would like to use M-PESA anywhere across the world, ” Safaricom CEO Peter Ndegwa.
The Virtual Visa card merely serves to map your Mpesa balance; it does not hold any funds. It also follows the same set of rules and restrictions as your M-Pesa account. So, the maximum transaction value is KES 150,000, and the maximum daily amount is KES 300,000.
Visa is committed to expanding the payments ecosystem in Africa by allowing every consumer access to the global economy. This collaboration with Safaricom is a key step toward achieving that goal.
Other global agreements with Safaricom include PayPal, AliExpress, and Western Union, which allow clients to receive and send money around the world.