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4 Ingenious Ways You Can Do With Mastercard Mobile | mastercard mobile

MasterCard has recently partnered with local mobile based financial institution, Olti, to introduce MasterCard Mobile to the South African Market, further expanding the network for online purchasing in the country. MasterCard Mobile enables MasterCard and Maestro cardsholders to make online purchases with their current mobile phones. A one-time registration process is required. Customers can choose from a variety of payment methods including MasterCard, VISA, and Diners Club. The service offers benefits such as discount coupons, cash back, and travel miles.

On October 4th, 2021, in partnership with Vodacom, the South Africa mobile operator randp started offering the prepaid MasterCard cards. The cards are available to all customers and are provided as an OTT (or online/offline) card with an allocated PIN number. In this manner, the users do not need to show their ID or any proof of identity at any point in time as they will be issued a MasterCard Mobile at that particular merchants outlet. There are only a few select retailers who have so far begun offering the cards. A few other companies include: Kranzley, Claro, SAA, MTN, Orange Cash, MTD, Unisom, Starcom and CMC.

A few days later, on October 5th, 2021, randp revealed that it was in talks with other card brands to launch prepaid MasterCard Mobile in South Africa. “We are discussing with other credit card brands with the objective of introducing a new mobile phone card in South Africa,” said Mr. randp. “This is part of our strategy to strengthen our market position. We believe that prepaid MasterCard cards will be adopted in large part by our retailers.” However, he declined to provide any further details.

Soon after the reveal, there were several articles written on the same topic. Some discussed how this will affect the mobile payment sticker on mobiles in banks. Others talked about the benefits of prepaid cards. Still others wondered why this is a new service that has been suddenly introduced by randp.

In South Africa, mobile phone penetration is way higher than the rest of the world. The question then becomes how this can benefit merchants who also process payments via mobile phones. The answer is simple. Through the use of a merchant's mobile phone, he can accept both credit cards and electronic cheques at the same time. The merchant does not need additional equipment for this purpose and thus saves on expenses.

This is where the use of a merchant's mobile phone comes in. The merchant simply needs to get hold of his customer's mobile phone number before the transaction can be complete. He then utilizes the POS system provided by the MasterCard mobile payment sticker to process the customer's payment. The end result?

Merchants can expect various benefits once they switch to this new payment method. First, they will be able to provide better services. Credit card transactions are often swifter than debit cards. Merchant's machines are thus less likely to be jammed or shut down during a busy day. They will also be able to accept a wide range of payment methods including EFT, cash, cheque and credit cards, negating the need for additional equipment.

With all these benefits, it comes as no surprise that more merchants are going for this new service. Before long, we are likely to see atm machines in every shopping center, mall and restaurant. Gone will be the days when paying by cash was the only option for customers who are not comfortable with paying through their mobile phone. The merchant will still get a piece of mind, knowing that payment is safe and secure with the help of a MasterCard Mobile payment sticker. It is expected that within three years or so, atm machines everywhere will accept debit cards and even regular credit cards.

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