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Image: Manuel Baumheier
Telkom has launched a digital wallet that allows users to pay others and to pay themselves using their mobile phone and WhatsApp.
Called Telkom Pay Digital Wallet, or Telkom Pay for short, the wallet allows people to send money to anyone on their contact list. It also serves as a cashless point of sale payment option for businesses.
In a statement Wednesday, Telkom’s managing executive for financial services, Sibusiso Ngwenya, said: “We are launching financial services solutions that are tailored to everyone and that are easily accessible over the phone, 24/7, at a price affordable for consumers and businesses. “
The move, Ngwenya said, indicates Telkom’s seriousness about being a significant player in fintech.
Here’s how it works: WhatsApp users can add Telkom Pay in the app, sign up, and then can send and receive money by sharing a “please pay me” with a contact or using a cell phone number to send money.
Telkom Pay also allows customers to buy airtime, data and electricity.
“For those who are reluctant to carry cash all the time, the wallet allows them to make easy payments by simply scanning and paying for the products with QR codes at their favorite stores. To continue making transactions in Telkom Pay, users must recharge their wallets using EFT, Nedbank ATMs or at any Pick n Pay store, ”said Telkom.
All networks
Users of other mobile networks can also access and use the platform.
Telkom did not immediately disclose the fees the service attracts or what transaction limits are in effect; TechCentral has requested this detail and will update this article once the information is received.
“The transaction through Telkom Pay Digital Wallet only requires registration and funds in the account, and customers can link any bank card to the platform. Payments can be made at any time and will be reflected immediately, ”the company said.
To register, consumers must save the Telkom Pay number (+ 27-68-483-5566) as a contact on their phone and start a chat on WhatsApp by typing “Hello.” – (c) 2020 NewsCentral Media
