Digital lending fintech FASTA has partnered with Mastercard to launch South Africa’s first virtual Mastercard credit card, FASTACard.
FASTA is a digital finance business offering its customers access to credit via a secure virtual card, enabling them to pay for a wide range of goods, services such as airtime and data, as well as bills.
Backed by Standard Bank and Tutuka, the virtual card replaces a physical plastic credit or debit card and can be used for eCommerce purchases anywhere that Mastercard is accepted.
For in-store purchases, FASTACard can be loaded into Samsung Pay, or any Masterpass-enabled digital wallet available from all the major banks, as well as SnapScan or VodaPay. Once loaded, the cardholder can use their mobile phone to Scan a QR code displayed at checkout at more than 200,000 retailers and billers that accept Masterpass payments in South Africa.
“South Africans are increasingly shopping online to access what they need without leaving their home, but the safety of their payment details remains a key concern. The new virtual card means that consumers no longer need to use their primary bank card for online shopping. It also provides them with additional security and control as they select the exact amount they want to load onto the card for their purchase.” said Suzanne Morel, country manager at Mastercard, South Africa.
