M-PESA Visa Card Charges: Here Are the New Transaction Charges To Have On Your Fingertips

Ten years ago, no one could have ever imagined all the digital achievements that our Country, Kenya, has immersed. All this could be achieved thanks to industry partnerships, majorly our Own Safaricom, which has been steering unique Tech products in the country. Safaricom has introduced the M-PESA GlobalPay Virtual VISA Card in collaboration with Visa. This innovative solution allows users to make hassle-free international payments and purchases through M-PESA wallets. 

Whether you're eyeing the latest gadgets on Amazon or subscribing to streaming services like Netflix, this virtual card opens up a world of possibilities. In this article, we'll delve into the details of the M-PESA GlobalPay VISA Card, how it works, the associated charges, and why it's a game-changer for Kenyan consumers.

Key Takeaways from the Article

1. M-PESA GlobalPay Virtual VISA Card empowers users to shop at international online merchants from their M-PESA wallets.
2. The card collaborates with M-PESA and VISA, bringing security and convenience to global online purchases.
3. Access the service through the M-PESA App or USSD code *334#.
4. M-PESA imposes transaction limits, with a minimum amount of Ksh 1 and a maximum of Ksh 150,000.
5. A 3.5% markup is applied for international payments based on prevailing forex rates, with no additional charges.
6. The virtual card enhances security, expense tracking, travel booking, and payment for streaming services.

How to Access M-PESA GlobalPay Virtual VISA Card

Getting started with the M-PESA GlobalPay Virtual VISA Card is as simple as a few taps on your phone. Here's how you can activate this service:

Via M-PESA USSD (334#):

1. Dial *334# on your mobile phone.
2. Select 'Lipa na M-PESA' (Option 6).
3. Choose 'M-PESA GlobalPay' (Option 5).

Via M-PESA App:

1. Log in to your M-PESA App.
2. Navigate to the 'Grow' tab.
3. Select 'M-PESA GlobalPay' to activate the service.
4. Choose your preferred card color.
5. Enter your PIN.
6. Receive your card number and expiry date.

Remember that M-PESA customer limits apply, with a minimum transaction amount of Ksh 1/= and a maximum of Ksh 150,000. The maximum transaction limit is Ksh 300,000, subject to prevailing exchange rates.

Charges and Benefits

Safaricom applies a 3.5% markup on the transaction value for international payments, ensuring seamless forex conversion. This fee is calculated based on the exchange rate of the billing currency (Ksh) to the currency used for the purchase (e.g., USD, GBP). However, no additional charges, such as M-PESA transaction fees, are imposed on online purchases.

The M-PESA GlobalPay Virtual VISA Card offers a host of advantages:

1. Convenience: Say goodbye to the hassle of currency conversion. Shop globally with ease and pay in your local currency.
2. Security: Your card details are not linked directly to your bank account, enhancing security. Plus, the generated security code (CVV) expires after 30 minutes, minimizing the risk of misuse.
3. Expense Tracking: Keep tabs on your spending with detailed transaction records, helping you budget effectively.
4. Travel-Friendly: This virtual card simplifies international travel expenses, from hotel reservations to flight bookings.
5. Entertainment Subscriptions: Pay for streaming services like Netflix or Disney+ conveniently with your M-PESA GlobalPay Virtual VISA Card.

How to Pay Using the Virtual Card

Using the M-PESA GlobalPay Virtual VISA Card is a breeze. Whether you're shopping online or booking flights, follow these steps:

1. Download the M-PESA App and activate the GlobalPay service.
2. Access your card details within the app or through the USSD code *334#.
3. During checkout, input your card details (16-digit number, expiry date, CVV).
4. Confirm your purchase and enjoy your global shopping experience.

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Conclusion

The M-PESA GlobalPay Virtual VISA Card brings the world of international online shopping to your fingertips. Its easy activation process, secure transactions, and convenient usage make it a game-changer for Kenyan consumers. Say goodbye to currency conversion hassles and embrace a seamless, secure, globally connected shopping experience with M-PESA GlobalPay. Activate the service today and embark on a journey of online convenience like never before.

FAQs About M-PESA GlobalPay Virtual VISA Card

Can I use the virtual card for local online purchases? 

The virtual card is exclusively for international online merchants like Amazon and Netflix. Local purchases should be made using the Lipa na M-PESA option.

Is Fuliza available for payments with the virtual card? 

Fuliza cannot be used with the M-PESA GlobalPay Virtual VISA Card. You'll need to use available funds in your M-PESA wallet.

What are the transaction limits? 

Transaction limits range from a minimum of 110 shillings to a maximum of 150,000 shillings per transaction. The maximum daily limit is 300,000 shillings, subject to exchange rates.

 Can I reverse a transaction? 

Yes, Safaricom allows reversals for transactions. However, a 3.5% markup fee will be retained as a forex exchange fee.

How secure is the virtual card? 

The virtual card is highly secure, as it's not directly linked to your bank account. The generated CVV expires after 30 minutes; only you can access the card details.

What about data privacy?

 While the partnership with Visa enhances shopping options, it might involve sharing personal data. Safaricom and Visa are required to comply with the Data Protection Act of 2019 to ensure data security.

Disclaimer:

The information provided in this article is based on available data and guidelines provided by Safaricom and Visa. Users should refer to official sources for the most up-to-date and accurate information regarding the M-PESA GlobalPay Virtual VISA Card.