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Airtel Africa's fintech arm, Airtel Mobile Commerce N.V., is set to launch a virtual payment card in Kenya, creating a new challenge to Safaricom's dominance in the online payments market. Designed in partnership with Mastercard, the Virtual Card Number (VCN) will be compatible with Airtel Money wallets, allowing users to shop on international platforms like Amazon and Netflix without needing a traditional bank account.

This new entry puts Airtel Money Global Pay in direct competition with Safaricom's M-PESA GlobalPay, launched in 2022. While Safaricom holds a strong lead in the market, the contest extends beyond the underlying payment networks; it also revolves around how customers fund transactions, manage online spending, and access credit when their wallet balance is insufficient.

M-PESA GlobalPay can tap into the Fuliza overdraft facility, enabling eligible customers to make online payments even when their M-PESA balance is low. However, Airtel Money’s prepaid card does not offer this feature; users must first fund the virtual card before making a purchase.

According to data from the Communications Authority of Kenya, Safaricom's M-PESA mobile money market share dropped to 88.8% in June 2026, down from nearly 95% in 2023. Conversely, Airtel Money's share grew to 11.1% over the same period, indicating a gradual shift in the competitive landscape, although Safaricom's lead remains significant.

The launch of Airtel’s virtual card comes as Kenya's digital services usage continues to grow, providing both operators with incentives to compete for international payments. Streaming services like Netflix, which entered Africa in 2016, exemplify how global digital platforms have become an integral part of daily spending. Virtual cards enable users without bank accounts to pay for such services using mobile money, expanding wallets' reach beyond domestic transfers and merchant payments.

For operators experiencing pressure on domestic payment charges, cross-border transactions offer an opportunity to generate revenue from international commerce. Safaricom's global payments operation, encompassing cross-border transfers, virtual cards, and app store billing, generated KES 4.76 billion ($37.2 million) in the fiscal year ending March 2026, a 22.3% increase from the previous year.

Airtel aims to capture a share of this revenue stream as more customers utilize its wallet for online purchases. With its mobile money operation generating $1.3 billion in revenue across 14 African markets, including Uganda, Zambia, and Tanzania, Airtel plans to roll out the virtual card service in Kenya, the Democratic Republic of Congo, and Gabon.

The two products employ distinct funding approaches for online payments. M-PESA GlobalPay links to the customer's M-PESA wallet, while Airtel’s VCN model requires users to transfer funds from their main Airtel Money wallet to the virtual card before making a purchase. This setup allows Airtel customers to compartmentalize money for online transactions, keeping the rest of their wallet balance separate from card-related expenditures.

However, customers must still safeguard their account credentials and monitor transactions, regardless of the chosen card model. Safaricom's original virtual Visa card design featured a CVV generated through the M-PESA app, lasting 30 minutes and usable only once. The overdraft feature introduced in 2026 allows eligible customers to complete online payments even when their wallet balance is insufficient, potentially leading to automated charges drawn on credit and the need for customers to repay the overdraft.

Airtel’s prepaid model lacks an equivalent overdraft facility, requiring users to have sufficient funds on the virtual card for each purchase. While this may be less convenient, it prevents the card from extending spending through an equivalent credit line.

Airtel's virtual card faces a scale challenge, as Safaricom's vast customer base provides a substantial audience for its M-PESA GlobalPay service. Familiarity with M-PESA may deter customers from switching payment methods. However, Airtel's regional rollout and its existing user base could provide valuable insights and experience as it enters the Kenyan market.

Customers will need to evaluate foreign exchange charges, transaction limits, acceptance rates, dispute handling, and the ease of managing card details when comparing the two virtual card options. Airtel's pricing strategy will be particularly crucial, as a lower-cost card could attract price-sensitive users, while unclear fees could undermine the appeal of its prepaid design. Safaricom's GlobalPay applies a foreign exchange markup, making the total cost of a purchase an important point of comparison for potential users.