04 September 2020

Ukheshe Technologies, the payments platform specialist, has launched its third-party processing services (TPP) in South Africa through an extended partnership with Mastercard and Nedbank.

This latest announcement by the fintech specialist gives everyday businesses access to prepaid and virtual cards, which were typically only available to large enterprises.

Clayton Hayward, chief executive officer at Ukheshe said that through the innovative payment solutions, businesses in South Africa can now issue virtual prepaid cards to employees or customers.

Recipients now have improved financial freedom where they have the option to earn rewards, incentives and have a secure card that can work anywhere in South Africa, while building brand association.

“From providing a path to financial inclusion to the underserved to acting as a safer, more convenient payment option while travelling, or enabling people to shop online, prepaid payments have a broad appeal and room for growth in South Africa,” Hayward added. “For businesses, this offers a more secure and trackable way to pay for things. It will also help to eliminate fraud while also making arduous administration tasks much easier to manage and reconcile.”