Airtel, Mastercard launch mobile payments card in Africa

Airtel Africa, Standard Chartered Bank and MasterCard Worldwide announced the launch of the world's first virtual card that operates off a wallet residing on a mobile phone. This payment method known as the Airtel 1time Shopping Card will soon be available in Kenya and rolled out to markets across Africa, subject to regulatory approvals 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 ensure that consumers will be able to transact in a reliable, convenient and secure environment, Airtel said. Subsequent phases of the programme will allow Airtel subscribers to make payments across the MasterCard network. Airtel Africa customers in Kenya will soon be able to use their mobile phones to make online purchases from MasterCard merchants around the world. The simplified online transaction will work in the following way: each time an Airtel customer is shopping online he or she will be able to request a single use shopping card number. Airtel money services 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 consumer's handset.