The payments platform Ukheshe Technologies has launched its Third-Party Processing Services (TPP) in South Africa, giving businesses access to prepaid and virtual cards.
Ukheshe will leverage Mastercard Processing, which enables it to launch prepaid payments programmes to its customers. The platform helps businesses expand their payments portfolios across business channels with minimal infrastructure investment.
Nedbank says that the partnership is another step forward in this commitment to value-adding, and inclusive banking-as-a-service. The use of digital payment solutions is becoming more widespread, as more emerging economies, including South Africa, adopt a post-cash mindset, curbing the high indirect costs and unnecessary risks, and harness the power of digital and mobile payment technologies to drive economic growth and financial inclusion.
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