FNB has officially availed its Virtual Card to individual and business customers who use the FNB and/or RMB Private Bank Apps. 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. Customers also have the flexibility to create multiple Virtual Cards for each transactional account, at no cost, to better manage their spend.
Raj Makanjee, FNB Payments Executive says, “The roll-out of our Virtual Card offers our individual and business customers a wider choice of safer payment methods when shopping online or at a point of sale. The distinct differentiators of world-class security and convenience make our Virtual Card a preferable transactional method for customers to better manage their money. The roll-out affirms our intent to continue leading a new era in payments for both consumers and businesses. Our wide and industry leading choice of safer payment methods is key in encouraging customers to minimise reliance on inefficient payment methods including cash. For retailers, efficiencies in methods of payment can help minimise risks of basket abandonment and reduce queuing times.”
Chris Labuschagne, CEO of FNB Card says, “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 Card Verification Value (CVV) security number that changes every hour to help customers minimise the risk of fraud. The Virtual Card is safely stored on the App and customers can temporarily block, cancel or replace their Card via the App. Our customers can also use the Virtual Card to pay digitally via Scan to Pay, or during check-out for online purchases. In addition, and testament to our innovative nature, we did not need to create a new store of value for customers to access this functionality as it works on all existing transactional accounts.”
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 eCommerce 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, ensuring our customers enjoy a complete digital experience.
