Telkom, one of South Africa’s main telecommunications providers, partnered with EFT Corporation’s Banking-as-a-Service platform to launch Telkom Pay to create a digital-first wallet solution to focus on digital inclusion especially for underserved consumers and small businesses. 

Solution

The solution Telkom Pay, enabled by EFT Corporation.

Provided a BaaS platform to deliver a frictionless digital payments experience for consumers and merchants. With our BaaS Technology, Nedbank now delivers:

1. Fast, digital KYB onboarding
2. Customer and merchant wallets are used to allow them to send, receive, and manage funds securely on their phones.
3. Issuing of virtual cards that can be linked to user wallets for online payments
4. Tap on Phone (SoftPOS) to transform NFC-enabled smartphones into payment terminals with no extra hardware required.
5. A built-in value-added services (VAS) such as airtime top-ups, data bundles and bill payments.