Tutuka Enables More South African Businesses to Issue Instant Virtual Visa and Mastercards

JOHANNESBURG,July 25,2019 -- Tutuka-- a global payments enabler is the leading issuer of virtual cards in South Africa. The payments leaders virtual Visa and Mastercards have been helping South African businesses to offer their consumers a more secure way to shop online. Virtual cards can be created in seconds through an app or an SMS and work anywhere online that accepts Visa or Mastercard. These digital payments solutions are helping to power the growing e-commerce industry in South Africa.

Researchshows that South African online spend is forecasted to grow over R53 billion by 2018 with a projected annual growth rate of 15% through 2021. This means that more businesses are looking for ways to help their consumer shop online through secure means. When a virtual card is issued,businesses are able to offer their customers extra rewards. For example,Tutuka enabled an award winning virtual card for Standard Bank. This allows users to create a generic or retail specific virtual card that offers users discounts and rewards when used in conjunction with the Uber app.

Rowan Brewer,CEO of Tutuka said: "Companies across South Africa use plastic Mastercard and Visa cards to enable their customers to receive loans,get gifts,spend rewards and incentives,or just to make payments. With a Tutuka powered virtual Mastercard it is now possible to do all of that but with a fully functional Mastercard that can be distributed digitally,without any plastic and usable on any South African website."

With the help of Tutuka's innovative payment solutions,businesses in South Africa can now issue virtual cards to their staff or customers. Allowing their consumers more financial freedom where they have the option to earn rewards,incentives and have a secure card that can work anywhere in South Africa.

About Tutuka

TUTUKA is a third-party prepaid processor. Tutuka's innovative software can be used to issue closed-loop prepaid cards,loyalty cards,open loop prepaid cards,payroll cards and travel cards. With more than 20 years of experience,TUTUKA processes millions of dollars in transactions for over 400 prepaid card programs across Africa,the Middle East,Latin America and Asia. Visit https://www.tutuka.com/for more information.

Contact:

Aliesha Piggott

aliesha@tutuka.com

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