Airtel Launches World’s First Virtual Credit Card

By February 4th, 2011 AT 12:41 PM

Airtel Launches World’s First Virtual Credit CardBharti Airtel, a leading global telecommunications company with operations in 19 countries across Asia and Africa today announced the launch of   World’s first Virtual Card.

The virtual card will operates off a wallet residing on a mobile phone in African market in association with Standard Chartered Bank and MasterCard.

The mobile technology platform and airtel’s vast consumer penetration combined with the financial structure and regulatory framework provided by Standard Chartered Bank and the global acceptance of MasterCard will ensure that consumers will be able to transact in a reliable, convenient and secure environment.

Speaking on the groundbreaking innovation, Manoj Kohli, airtel CEO (International) and Joint Managing Director, said “Today’s launch of the world’s first virtual number on a mobile card marks a big milestone in mobile commerce. The airtel 1time Shopping Card is proof that airtel will deliver innovative and relevant mobile solutions that will help consumers overcome the daily challenges in their lives. The solution will offer consumers a robust e-commerce solution that delivers security, accessibility, acceptance, ability and a global reach. Subsequent phases of the program will allow airtel subscribers to make payment across the MasterCard network.”

The global opportunity for mobile payments is large. The global unbanked population with mobile phones is expected to grow 70% over the next year to 1.7 billion people by 2012. The opportunity for mobile payments is especially significant in Africa, where there are close to 400 million mobile phone users and an unbanked population of 230 million households. By 2014, Africa is expected to see 56% mobile penetration.

7
Leave a Reply

avatar
Photo and Image Files
 
 
 
7 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
7 Comment authors
Larkins DsouzaKumarKarthik Kumar V GkarannChetan Recent comment authors
newest oldest most voted
Larkins Dsouza

This article is highly inaccurate.. There are many Virtual Credit Cards available in market from many banks in India.

Mastercard and Visa collaborate with the banks to provide this.

Kumar
Kumar

I have taken a airtel mobile money sim & find it easy to transact while shopping.
This is my opinion.

Recent Posts

Dish TV Introduces All in One Plans for Subscribers, Bundles Special Cricket Service

Dish TV, India’s largest single-country DTH provider has listed new plans for winning back its customers. To recall, the service...

Xiaomi Aims to Expand Offline Presence in India: Manu Kumar Jain

Chinese handset maker Xiaomi, which is the biggest smartphone seller in India, aims to continue expanding in offline channels as...

After Moto G7 Power, Motorola Now Teases Moto G7 India Launch

Lenovo-owned Motorola launched the Moto G7 lineup of phones in Brazil last month. The Moto G7 Power already made its...