The increase in number of Mpesa users makes mpesa a great financial service provider. M-PESA become part of Kenya's financial system because of the large amount of transactions it undertakes. This is because the many mpesa users are using mpesa services to;send and receive money, accessing overdrafts such as fuliza, accessing loans and savings like the KCB M-PESA and M-Shwari, and other bill payments.
M-PESA users who are in need of doing international online payments and transactions wished that safaricom could introduce a virtual debit card. Virtual debit cards are involved with payment for online products and services by Kenyans. Some products such as music streaming by spotify accepts payments through M-PESA but others do not accept. Services such as Netflix payments and other online stores do not accept payments via M-PESA forcing customers to use their bank associated cards. People dislike using their bank associated cards because of some security reasons or other reasons well known to themselves.
Local products like Tingg had introduced the virtual debit card feature which did not last for a long period of time. This has made people to completely rely on universal payments methods like PayPal which is now faulty because of holding their customers money illegally for long periods of time without any clear reasons hence causing inconveniences to their customers.
During the reveal of Safaricom's FY 2022 results (ended 30th March), Safaricom's CEO Peter Ndegwa announced that Safaricom will launch M-PESA GlobalPay powered by Visa virtual Cards for international payments online. The card should be out before the end of June 2022.
"With the help of our regional regulators and partners, we're working together in a new year to develop innovative solutions like Visa Virtual Card by M-PESA GlobalPay to promote worldwide online payments", says CEO Peter Ndegwa.
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