PayCentral and Mastercard have launched a new product, ‘DigiCentral.’
According to Mastercard, PayCentral’s prepaid virtual card enables small and medium-sized enterprises to quickly and cost-effectively pay out rewards, incentives and expenses to employees.
DigiCentral is a secure online platform, through a prepaid virtual card.
Mastercard explained that DigiCentral virtual cardholders received a 16-digit card number, security code and expiry date, which they would use much like a physical card to complete a purchase online.
The virtual card could be loaded to any Masterpass-enabled digital wallet for in-store purchases, Mastercard further explained.
Country Manager, Mastercard, South Africa, Suzanne Morel, said, “Social distancing has changed the way consumers pay and they now opt for touch-free, secure, and seamless ways to pay without compromising their health and safety. This, in turn, has accelerated the demand for safe and secure virtual cards.
“Through our partnership with PayCentral, we can help small business owners to better meet the needs of their employees – without the costs and risks associated with cash.”
In addition, Founder of PayCentral, Veenash Parbhoo, commented, “A large part of our focus in South Africa is directed toward SMEs. We find that owners of smaller businesses need options when it comes to paying their staff as well as managing their petty cash and expenses. Working with small businesses for the past five years has allowed us to see them grow as a result of the payment products we offer.”
