Vodacom Adds EMV Banking Card to Complement M-Pesa Mobile Money Service in South Africa
Wednesday, January 21, 2015
Leading digital security company, Gemalto has announced the deployment of prepaid EMV banking cards to complement Vodacom’s m-pesa mobile wallet service in South Africa.
The card is certified by the major international payment schemes and accepted at any of the 240,000 EMV-compliant payment terminals and over 27,000 ATMs throughout the country, which will significantly extend the reach of the leading South African operator’s services.
Gemalto’s off-the-shelf solution for Vodacom encompasses design and production of the card, as well as automatic packaging and point-of-sales delivery. The card links seamlessly to m-pesa accounts, and gives users the freedom to make payments for goods and services without the need to carry cash.
“Gemalto offered us the convenience of a fully packaged solution,” said Herman Singh, Managing Executive of m-commerce at Vodacom. “By expanding our m-pesa mobile wallet offering with the banking card, we’ve been able to add an entirely new level of functionality which we think is critical to the success of m-pesa in South Africa.”
With efficient distribution network a prerequisite for success in the prepaid market, the m-pesa card will be made available through 8,000 Vodacom agents and enrollment with the company’s secure system is now a hitch-free process. Users can check current balances via the mobile wallet app and receive SMS alerts when funds are running low. Furthermore, because it is a PIN-protected virtual account, the user’s credit remains safe even if the card is lost or stolen.
Source: Ventures Africa (link opens in a new window)