The FNB Virtual Card is a virtual card issued by FNB, and customers of FNB Pay-enabled digital wallets can now utilize their virtual cards on their mobile devices for making contactless Tap to Pay purchases or even Scan to Pay purchases.
There’s no need to be concerned about credit card fraud anymore. It’s easy to use, safe, and intelligent enough to alter its 3-digit CVV on an hourly basis. To shop safely online, simply link your personal or company accounts.
Samsung Pay, Garmin Pay, Fitbit Pay, and Apple Pay are all examples of this.
Customers could previously only use their digital wallets to pay for online purchases, subscriptions, and QR code payments using cards.
In a statement, Card Chief Executive Chris Labuschagne said, “FNB’s aim is to offer our individual and business customers with a larger range of convenient payments solutions through our digital services.”
“As a result, we’re overjoyed to witness the increased use of our safer and more convenient online and point-of-sale payment solutions.”
FNB virtual cards Features and Benefits
With FNB, you may use your virtual cards at checkout. To pay, simply tap the screen.
Customers of FNB and RMB Private Bank can generate and store virtual cards using their mobile apps.
Virtual cards are simple to create, cancel, or erase, and they can be blocked temporarily at any moment.
You can manage your virtual card on the app once you’ve added it because all of your card information is visible.
Virtual cards are simple to load for online purchases at Takealot, Amazon, and other retailers, as well as for online subscriptions to Uber, Netflix, and other services.
Without the requirement for a real card, FNB customers can use their virtual cards for tapping or scanning with FNB Pay or other wallet transactions from its partners such as Apple or Samsung Pay, Fitbit Pay and Garmin Pay.
The cards have a changeable CVV number for added security. The number reduces the possibility of deception.
Virtual cards, according to FNB, allow individuals to lessen their reliance on actual cards and cash while making purchases.
The bank announced earlier this month that it had processed over R1 billion in virtual card payments through its FNB and RMB Private Bank applications.
Around 500 000 virtual cards had also been activated by app users.
FNB ascribed the payment method’s appeal to reasons such as the COVID-19 pandemic and security.
FNB has revealed that clients using its Virtual Card on the FNB and RMB Private Bank apps have made over R1 billion in transactions.
The news comes less than eight months after the bank first made the payment option available.
In a statement, Payments Executive Raj Makanjee stated, “We’re happy to see our Retail and Commercial customers driving the adoption of alternative payment methods in South Africa.”
“Our continuing investment in payments capabilities, which empowers both consumers and businesses to perform safer and more convenient transactions, has fuelled this momentum.”
As per FNB, roughly 500 000 FNB and RMB virtual cards have been used to make payments since the introduction date.