FNB is launching a new virtual card for individual and business customers. The card will officially launch in October 2020 and will be available to individual customers across debit, fusion and credit cards and for business customers on debit cards. Customers will be able to access the card via the FNB App and the RMB Private Banking App.
Customers have the flexibility to create multiple virtual cards for each transactional account to better manage spend. FNB said that its app users can use the virtual cards for QR code payments via scan to pay for a completely contactless digital experience at point of sale. 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.
Additionally, the virtual card can be uploaded and used on various online subscription platforms such as iTunes, Google play store, Netflix, Spotify and more. The expiry date is also longer than a physical card which allows the customer to keep using the card without being worried about an expiry period.