INNOVATION: FirstBank unveils virtual payment card

INNOVATION: FirstBank unveils virtual payment card

First Bank of Nigeria Limited says it has launched a virtual payment card, a naira-denominated debit card and digital representation of the plastic debit card.

A statement from the bank on Sunday, titled ‘FirstBank begins the year with an innovative, convenient virtual payment card’, said the card was designed to be linked to either a customer’s operative account or wallet account.

It said, “The FirstBank virtual payment card is a suitable alternative to the use of cash and cheques, with its wide-range features, which include the ability of cardholders to protect his/her card using the block and unblock capabilities; PIN reset; change PIN as well as view statement at one’s convenience.

“It also enables diaspora customers to spend from his/her FirstBank account within the spend limit advised by the bank without the need for a physical card.”

According to the bank, the virtual payment card is a safe, convenient, and an easy way of making e-commerce payments, amongst other functionalities.

The bank said, “The virtual payment card can be created via the bank’s leading digital channels: FirstMobile or Firstmonie Wallet applications.

“Customers can download the card, activate the card and consummate transactions all at once from the comfort of their homes/offices. No branch visit is required.

“Customers are advised to update their mobile application to the latest version, then select card services on the FirstMobile App and ‘my virtual card’ application to create a virtual card at the cost of N215 (VAT inclusive).”

Speaking on the launch, the Deputy Managing Director, First Bank of Nigeria Limited, Mr Gbenga Shobo, said, “The launch of our virtual  card is yet another secure and seamless way we promote electronic banking, while enabling customers to carry-out their transactions on the web.

“The virtual card is also designed to guard against the spread of the COVID-19 as it does not require physical interaction between the customer and FirstBank branches. We enjoin our customers to download the application and stay ahead in modern banking.”