airtel Africa, in partnership with Standard Chartered Bank and MasterCard Worldwide, has announced the commercial launch of an online payment system called ?PayOnline?. The virtual card, considered to be first of its kind in the world, will allow mobile subscribers to make purchases online.
The virtual card operates through a mobile wallet linked to airtel money which is a mobile commerce platform offered by airtel. It will allow customers to transact in the digital world without having to use a credit card or physical debit card.
Users registered with airtel will be able to make online purchases from any site where MasterCard is accepted. The online transaction will follow the process where firstly, airtel customers will have to request a one-time virtual card number with the amount of purchase. This will be followed by airtel money services platform generating a special 16 digit number which will enable the completion of transaction. Once the transaction is completed, a message will be sent to the consumer?s handset confirming the same. The single-use number assigned to each PayOnline purchase will expire if not used within 24 hours, ensuring increased security and protection to prevent unlawful access to people?s money. Transactions will initially be limited to 35,000Ksh (about US $369) per transaction and 70,000Ksh (US $739) per day.
Customers can purchase items online which are quoted in Euro, USD or Pound, and will be charged a fixed transaction fee of 50Ksh for each PayOnline number generated. This fee will be deducted from the customer?s airtel money account. The PayOnline solution is compatible with all mobile phones and operating systems through a configured update from airtel customer service.
The three partners have instituted strict controls to ensure probity and security of transactions. While initially launched only in Kenya, it will be available across Africa and other airtel markets in the next phase.
