Telkom launches mobile payment solution in South Africa

Telkom has introduced a mobile payment solution called Telkom Pay Digital Wallet (or Telkom Pay).

The platform will enable users to pay others and get paid themselves using their mobile phone through the WhatsApp messaging app; to anyone on their contacts list. It also acts as a cashless Point of Sale (POS) payment option for businesses.

The Managing Executive for Telkom Financial Services, Sibusiso Ngwenya, said, “We are launching financial services solutions that cater to everyone and that are easy to access through one’s phone 24/7 at an affordable price for consumers and businesses. Our device insurance has been in the market for a number of years. This year we have successfully launched funeral cover and our foray into payments further deepens our strategic intent to play a significant role in providing solutions that meet the needs of our customers and contribute to economic inclusion in South Africa.”

For those unwilling to carry cash on them all the time, the wallet facilitates easy payments by only scanning and paying for goods with QR codes at their favourite stores. Telkom Pay also enables customers to buy airtime, data and electricity.