Safaricom To Launch M-PESA Visa Virtual Card. Alibaba, Amazon, eBay Shopping Eased

Many M-PESA users have been wishing Safaricom would launch a virtual debit card for international online payments. This is a big issue because M-PESA has millions of users in the country, meaning a lot of people use the product for many functions: sending and receiving cash, accessing overdrafts (Fuliza), accessing loans and savings (KCB M-PESA and M-Shwari), paybill and other bill payments options, to mention a few. It has also become obvious that M-PESA is part of Kenya’s financial system by sheer numbers and the amounts it transacts.

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The issue of virtual debit cards can also be associated with online products and services Kenyans pay for. While products such as music streaming service Spotify can be paid for using M-PESA directly, others such as Netflix have not gotten there yet, meaning customers are forced to use cards associated with their banks. This introduces some friction, especially for folks who do not want to do that for security reasons or any other concern.

Some local products have had the virtual debit card feature, but not for long. A good example is Tingg, which has since eliminated it from its service offering. This means that some people are forced to use global payment gateways to receive cash, including the likes of PayPal, which has been faulted for ‘illegally’ holding customer money for very extended periods without any reasonable explanations.

At the reveal of Safaricom’s FY 2022 results (ended March 30), CEO Peter Ndegwa has announced that the operator will launch M-PESA GlobalPay powered by Visa Virtual Cards for international online payments.

The card should be here before the end of June 2022.

“With support from our regional regulators and partners, we are working together to deliver innovative products in a new year such as Visa Virtual Card by M-PESA GlobalPay to support international online payments,” says CEO Peter Ndegwa.

Their integration with PayPal is enough for me

This animal is just a bank, soon they’ll offer Mortgage loans

Kwanza watoe huyo Okuyu ghassia anaitwa Ndegwa and then I will start trusting the company again.

this is the guy driving all this innovation…
Bob was great for Safaricom but his stretch was soon going to runout…
Safaricom is now transitioning into a technology company , before it was just a Telecom… Ndegwa is panel beating Safaricom for the future

It’s about time. PayPal still insists on linking your debit card

It will be the most expensive Visa card in the world.

Kenyans have made this company rich by making unnecessary calls and sending useless SMS

It’s actually a virtual card not a physical one. So it’s like it will be just codes and PINs

Does it matter? Even MPESA is a digital solution, but expensive. It’s convenient but expensive as fuck. You pay 27 bob in withdrawal charges to withdraw 101 shillings on MPESA. That’s 26.7% of the amount you’re withdrawing. Which other digital payment processor in the world has such obscene rates?

Hell yes, this is what I have been waiting for!

And they just made a billion dollars in NET profit. You would think they would now make services more affordable but wapi.
When you have 10bob balance, you cant even make a 2minute call. And when they give you an offer and see you benefiting from it, they change it very fast and kill that benefit.
And why are we charged 6kes to send 110 on mpesa, and then 27kes to withdraw it. That is 33 bob to tranfer less than a dollar from one hand to another.
Almost 33%. While other Fintechs will max out at 1.5% to 1.8%

Hawa watu ni wezi, you’d expect regulators such as CAK or CBK to address such issues lakini ni ujinga tu wanafanya. The other thing is that they keep a bigger chunk of these mpesa charges then throw peanuts at their agents. Normal platforms keep 30% and give 70% to their agents but with Safaricom it’s the opposite. The only people benefiting from the service are the so-called super agents. MPESA agents wa kawaida rarely earn 10k per month despite the high likelihood of robbery, being scammed, and other dangers associated with the business.

Meanwhile,Online scammers …
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They used to have a similar card with I&M bank but they discontinued it.
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I wonder what happened.

Unnecessary how

Maybe it failed like the onetap thing that failed bigtime .

:D:D:D:D:D:D:D

We’ve been requesting this since time immemorial. I hope haitakua expensive like their other services

Unnecessary calls and text by sending your stupid girlfriend messages while you are in sitting room and she is in the kitchen.
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