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Telkom makes foray into mobile money

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Telkom has introduced Telkom Pay Digital Wallet, an e-wallet service for customers and merchants.

The mobile-based platform allows users to send and receive money through the WhatsApp messaging app. It can be sent to anyone on the user’s contacts list and can also serve as a cashless point-of- sale payment option for merchants.

Users with WhatsApp can add Telkom Pay on the app, register and from then on, they can send and/or receive money by sharing a “Please pay me” message with a WhatsApp contact, or using a cellphone number to send money.

Telkom Pay also allows customers to buy airtime, data and electricity via WhatsApp.

One does not have to be a Telkom customer to access and use the platform.

"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,” says Sibusiso Ngwenya, managing executive of Telkom Financial Services.

“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 reluctant to carry cash all the time, the mobile wallet also allows for easy payments by simply scanning and paying for goods with QR codes at their favourite stores.

To transact on Telkom Pay, users must top up their wallets via EFT, Nedbank ATMs or at any Pick n Pay store.

Transacting through the Telkom Pay Digital Wallet only requires registration and funds in the account.

“The digital wallet is a convenient and safe platform for anyone who wants to send family and friends money; needs to buy airtime, data and electricity; and wants to shop and pay for goods or services using one platform,” adds Ngwenya.

How it works:

To register, customers need to save the Telkom Pay number +27 68 483 5566 as a contact (Telkom Pay) on their phone.

Users can link any bank card to the platform.

They then start a chat on WhatsApp by typing “Hi”.

Users can top up the digital wallet with actual cash before sending money or buying goods.

Payments can be done anytime and will reflect immediately.

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