Telkom made news not too long ago with the announcement that it will partner with the SABC to launch its own streaming service (we’ll leave the argument of whether that’s a great or terrible idea up to you), and now the firm has offered a novel payments service that will run through WhatsApp.
While WhatsApp is one day expected to launch its own digital payments service (which the company is trialling in India) and further integrate with Facebook’s Libra cryptocurrency, Telkom Pay is instead a wallet service that customers can interact with, but not bank directly with.
Users wishing to enrol can add Telkom Pay as a contact on WhatsApp using the number 068 483 5566, and can thereafter register an account using their South African ID number. Users can then add funds to their Telkom Pay Digital Wallet via EFT, Nedbank ATMs, or Pick n Pay stores – where withdrawals are possible at the latter two vendors.
From there, users will be able to pay other South Africans out of their wallet using their registered cellphone number, or submit a ‘Please Pay Me’ request to other contacts. QR payments are further supported.
Telkom has clarified that users across different networks can use the service, and that the service is compliant with data protection standards.
The company further offered that customers will be able to purchase utilities such as electricity, data, and airtime through the platform.
In a release to the press, Telkom managing executive for financial services, Sibusiso Ngwenya, quipped that “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.”
What are your thoughts? Would you be prepared to use Telkom’s service to transact over WhatsApp? Would you be prepared to use it to transact with WhatsApp for Business accounts? Let us know in the comments below.
