First National Bank has launched its Virtual Card offering to all customers after a period of beta testing.
Virtual Card is a digital card solution built into its smartphone app on Android and iOS that FNB believes will make both online and physical payments significantly safer and more convenient.
Virtual Card is activated and stored in FNB customers’ profiles on the FNB app. Only they have access to it and the CVV security number, normally printed on the back of credit and debit cards, changes every hour, “keeping your card details more secure than ever”.
The service is available to individual and business customers who bank with either FNB or RMB Private Bank.
“Customers can immediately load the Virtual Card on their FNB and/or RMB Private Bank profile and link it to a debit, credit or fusion account at no additional cost to shop safely and conveniently,” the bank said. “Customers also have the flexibility to create multiple Virtual Cards for each transactional account, at no cost, to better manage their spend.”
FNB Card CEO Chris Labuschagne said in a statement: “As consumers and businesses are adopting convenient ways to shop and pay, security becomes a critical factor. One of the key security features on our Virtual Card is a dynamic CVV security number that changes every hour to help customers minimise the risk of fraud. The Virtual Card is safely stored on the FNB app and customers can temporarily block, cancel or replace their card via the app.”
FNB customers can also use the Virtual Card to pay digitally via “scan to pay”, or during check-out for online purchases.
Customers can load their Virtual Card on trusted websites or apps for safer and convenient online shopping, as well as wearable devices for contactless payments.
Initially, customers will be able to use their Virtual Cards for e-commerce purchases, streaming services and QR payments via “scan to pay” on the FNB app.
In the coming months, the Virtual Card will also support usage in supported contactless “tap-to-pay” digital wallets. These include but are not limited to FNB Pay and Samsung Pay. — © 2021 NewsCentral Media