HONG KONG -- airtel Africa, Standard Chartered Bank and MasterCard Worldwide today announced the launch of the world’s first virtual card that operates off a wallet residing on a mobile phone. This innovative payment method known as airtel 1time Shopping Card will offer communities the opportunity for greater participation in the financial system as they realize the substantial benefits of mobile commerce. This single use shopping card will soon be available in Kenya and rolled out to markets across Africa, subject to regulatory approvals.

The mobile technology platform and airtel’s vast consumer penetration combined with the financial structure and regulatory framework provided by Standard Chartered Bank and the global acceptance of MasterCard will ensure that consumers will be able to transact in a reliable, convenient and secure environment.

Speaking on the groundbreaking innovation, Manoj Kohli, airtel CEO (International) and Joint Managing Director, said “Today’s launch of the world’s first virtual number on a mobile card marks a big milestone in mobile commerce. The airtel 1time Shopping Card is proof that airtel will deliver innovative and relevant mobile solutions that will help consumers overcome the daily challenges in their lives. The solution will offer consumers a robust e-commerce solution that delivers security, accessibility, acceptance, ability and a global reach. Subsequent phases of the program will allow airtel subscribers to make payment across the MasterCard network.”

Bharti Airtel Ltd. (Mumbai: BHARTIARTL)