Net1 Mobile Solutions, a business unit of Net 1 UEPS Technologies, has rolled out its mobile virtual card (MVC) technology through Pay in Private app in the US.
The free Android and iPhone app, Pay in Private, allows users to pay online by generating a one-time single use MVC debit MasterCard on demand.
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The app thus eliminates the need for a plastic card. Additionally, it provides customers with security and accessibility to transact online using their mobile handsets.
The virtual prepaid card can be used wherever MasterCard debit cards are accepted.
Net1 Mobile Solutions managing director, Philip Belamant, said with both credit and debit card fraud on the rise, this timely initiative not only demonstrates their ability to create secure technological solutions that are interoperable with existing worldwide payment networks, but also offers consumers a tool that provides guaranteed privacy and security when spending online.
"The simplicity of our Mobile Virtual Card is only matched by the strength of the security and functionality it provides, and the fact that it operates off-line ensures that the customer experience will always be of the highest possible standard," Belamant added.
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