Airtel Money and Mastercard have unveiled a new virtual card that enables customers in Uganda to shop using their mobile money account at more than 100 million merchants across 200 countries through Mastercard’s global network.
Airtel Money Uganda Managing Director, Japhet Aritho hailed the card as a gamechanger.
“We are not only availing global card to enable you purchase products anywhere in the world, we are also giving you total control over it. It means someone with a mobile phone is now able to access anything they want to buy anywhere in the world,” Aritho said.
“I will say this is the best card because we have taken time to observe the others and came up with something offering the best service. We want you to be more digital by transacting from anywhere in the world. The way the world is moving, we don’t need to think physical but virtual and this card is doing exactly this.”
Aritho said with over 16 million customers on Airtel Money, the new product will come in handy for them.
“These can easily transact on our ecosystem but now with the penetration of smartphones in the country, they can transact anywhere in the world.”
Godfrey Ssebaana, the CEO for DTB said they believe partnerships are the way to go, noting that the new product was a no-brainer.
“As a regulated institution our mandate is driving financial inclusion and Ugandans have said they want to transact with ease. Telecom companies have got much deeper penetration for the unbanked and our conviction is to partner with entities which have the data. We are excited that with this partnership, anyone with this card can use our services,” Ssebaana said.
He added that they are looking at innovating other products to be added to this partnership.
Lenin Oyuga,the head of telco commercial and partnerships for the Middle East and Africa region at Mastercard said with over 11 million Visa card users per month, the new product comes in handy for them.
“You're looking at over 11 million active and monthly users every single month that are interacting with the application and the mobile phone. And all these people need services. All these people need to subscribe to on Netflix. All these people need to subscribe and, you know, do a cross border, payments across border, but with the comfort of their mobile phone. And that's what has brought us here today to launch the Airtel Money virtual Mastercard,” Oyuga said.
