South Africa’s PayCentral launches prepaid virtual card for SMEs

PayCentral, a digital payment fintech based in South Africa, has partnered with Mastercard to launch a secure online platform DigiCentral.

Going by reviews, the online platform provides SMEs with a cost-effective digital payment solution that allows business owners to pay incentives, rewards, gifting, corporate expenses, and employee salaries via a prepaid virtual card.

The new partnership will help PayCentral digitise SMEs payment solutions via prepaid virtual card.

Veenash Parbhoo founder of PayCentral, while speaking to press, explained that DigiCentral is targeted at SA SMEs to offer the virtual card as an alternative payment solution.

He said: “A large part of our focus in South Africa is directed toward SMEs. We find that owners of smaller businesses need options when it comes to paying their staff as well as managing their petty cash and expenses.”

“Working with small businesses for the past five years has allowed us to see them grow as a result of the payment products we offer, he added.”

Similar to a physical card, DigiCentral virtual cardholders will receive a 16-digit card number, security code, and expiry date, to ensure they can complete a purchase online.

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