FNB is expanding its digital payments ecosystem by launching a virtual card for individual and business customers.
The virtual card is available to individual customers across debit, fusion and credit cards and for business customers on debit cards.
The virtual card will be available by October 2020 and customers will access it via the FNB App and the RMB Private Banking App. Once available, customers can request the card anytime, anywhere at no additional cost.
All 3-million FNB and RMB Private Bank App users can use virtual cards for QR code payments via scan to pay for a contactless digital experience at point of sale (POS).
In addition, the 2,4-million Android App customers with a compatible Android device can also enable their virtual card for tap to pay on the App for contactless payments.
This means customers no longer need to rely on a physical card at merchants that have tap to pay functionality as they can either use an Android smart device, or an Apple device where the merchant accepts QR Code payments.
Raj Makanjee, FNB payments executive, says the launch of the virtual card is part of the bank’s journey to avail convenient and safer solutions via a trusted platform. “We have made significant strides in enabling our customers to use digital payments, even when they shop at a physical point of sale. We believe that digital payments are a more convenient, secure and cost-effective solution for both the consumer and the merchant,” he says.