First National Bank launches a virtual card

First National Bank announced that it has launched its own virtual card that customers use on their FNB and RMB Private banking apps.

FNB stated that the purpose of virtual card sims is meant to provide a safer way to shop online and protect customers from fraud and card theft.

The bank noted that the service is free and multiple cards can be created for debit, credit, and fusion accounts and that nobody will ever be able to view the three important payment details – card number, CVV, and expiry date – at the same time within the app.

“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,” FNB said in a statement.

To enhance security, the CVV security number on the virtual cards change every hour. This reduces the risk of fraud and credential theft.

“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,” Chris Labuschagne, CEO of FNB Card, said in a statement.

Labuschagne added that 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,” said Labuschagne.

The FNB virtual card can be used for online purchases on websites and apps or to pay for streaming services and QR-code scanning payments.

The card also supports both domestic and global spending.

Written by: Gabriella Steyn.

Guzzle Media