Metro PCS, Net1’s first distributor of VCpay service, is expected to offer consumers an application that they can pre-load on new smartphones or download on existing devices. The service is set to allow users to generate a unique, one-time use prepaid virtual card number to securely purchase goods and services or perform bill payments in any CNP environment. Subscribers can (re)fund their prepaid virtual accounts with cash at any of MoneyGrams 40,000 US agent locations.
Launched in September 2010, the VCpay service is set to be a mobile phone-based prepaid virtual payment card application designed for Card-Not-Present (CNP) transactions.
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