M-Pesa Visa Card: Everything You Need to Know About Its Features, Uses, and Benefits

Have you ever wished for an easy-to-use payment solution that blends the convenience of M-Pesa with the universal acceptability of Visa? Enter the M-Pesa Visa Card, a cutting-edge product that bridges this gap, offering a seamless platform for making international payments directly from your M-Pesa account.

Launched by Safaricom in collaboration with Visa, this product has marked a significant stride in mobile money innovation, and this article is here to unravel all you need to know about it.

The Emergence of M-Pesa Visa Card

The inception of the M-Pesa Visa Virtual Card was marked by an announcement made by Peter Ndegwa, Safaricom's CEO, during the company's FY 2022 financial results release.

This groundbreaking digital card was born from a strategic partnership between Safaricom and Visa, initiated in 2020, to pioneer new digital products in Kenya. The card is the first of many more innovative products from this collaboration.

Key Features of M-Pesa Visa Card

The M-Pesa Visa Card has various user-friendly features to enhance your digital payment experience.

1. Use of the Card: The card operates like any other debit card. All you need to make a payment are the card number, expiry date, and CVV.

2. Dynamic CVV: The M-Pesa Visa Card has a dynamic CVV that changes every 30 minutes in the M-Pesa app. This feature ensures your card's security against unauthorized use.

3. Single Card Policy: Users can have only one card, irrespective of the number of SIM cards registered under one ID.

4. Card Limit Setting: The card lets you set transaction limits via the M-Pesa app, thus controlling the transaction amount.

5. International Usage: The card can be used on all international platforms that accept Visa cards.

6. Expiry Period: The card has a lifespan of three years but becomes inactive after six months of non-use.

7. Repeat Payments: Users can enable the 'Repeat Payments' feature on the M-Pesa app, facilitating automatic monthly payments without updating card details or CVV.

Obtaining Your M-Pesa Visa Card

Getting the M-Pesa Visa Card is a straightforward process. First, install the M-Pesa app from either Google Play Store or the Apple Store. Open the app, go to the 'Grow' tab, and select 'Global Pay.' After opting in, you'll receive a confirmation message from Global Pay. You can then customize your card's color and image, after which you will receive an SMS containing your card number and its expiry date. The app will display your card number details and dynamic CVV.

Charges and Limitations

The M-Pesa Visa Card has the same transaction limits as M-Pesa – a maximum of Ksh. 150,000 per transaction and Ksh. 300,000 per day. Using the card does not attract direct transaction fees, but customers will be charged a 3.5% forex fee, with the exchange rate depending on the rate at the time of payment.

One notable limitation is that you cannot use the card for local payments, such as on Jumia Kenya or other local commerce platforms. It is, however, accepted on international platforms with a local presence, like Netflix, Google Play Store, and Apple's App Store.

READ ALSO:  How to Pay for Netflix in Kenya with M-PESA

Conclusion

The M-Pesa Visa Card is an excellent example of how technology can be leveraged to revolutionize digital payments, especially for the unbanked or underbanked populations. It streamlines cross-border transactions, providing M-Pesa users with a seamless, user-friendly, and secure platform for international payments.

The collaboration between Safaricom and Visa to create this innovative product illustrates the potential of strategic partnerships in delivering cutting-edge solutions that push the boundaries of financial inclusion. The M-Pesa Visa Card enhances financial inclusion and transforms digital payments, promoting a cashless society.

FAQs About the M-Pesa Visa Card

What is the M-Pesa Visa Card?

The M-Pesa Visa Card is a digital card developed in collaboration between Safaricom and Visa. It operates like a typical debit card but offers enhanced security features and the convenience of M-Pesa.

How can I get an M-Pesa Visa Card?

You can obtain the card by installing the M-Pesa app and following the process described above under 'Obtaining Your M-Pesa Visa Card.'

Are there any transaction fees with the M-Pesa Visa Card?

There are no direct transaction fees when using the card. However, a 3.5% forex fee applies to international transactions.

Can I use the M-Pesa Visa Card for local payments?

No, you cannot use the M-Pesa Visa Card for local payments. It is primarily designed for international payments.

The M-Pesa Visa Card is a milestone in digital payments, offering an innovative and secure solution to the challenges of international transactions. Its user-friendly features and the potential for financial inclusion make it an attractive choice for M-Pesa users. As the partnership between Safaricom and Visa continues to bear fruit, we look forward to witnessing more groundbreaking innovations in the digital payment sector.