What Is a Virtual Card?

A virtual card is a digital version of a debit or credit card. It exists only in your banking app and is designed for secure online transactions. Each virtual card has its own unique 16-digit number, expiration date, and CVV, just like a physical card—but without the plastic.

How to Use a Virtual Card

Virtual cards are ideal for online shopping, subscriptions, and mobile app payments. You can also add them to digital wallets like Apple Pay, Google Pay, or Samsung Pay to make contactless payments in-store.

Steps to Use a Virtual Card:

  1. Open your banking app and create a virtual card.
  2. Use the card details at checkout for online purchases.
  3. For in-store payments, add the card to your digital wallet and tap to pay.

Which South African Banks Offer Virtual Cards?

Most major South African banks now offer virtual cards:

  • FNB: Provides virtual Visa cards with dynamic CVVs that change hourly for enhanced security.
  • Standard Bank: Offers virtual Mastercard cards that can be topped up or linked to your existing credit card.
  • Capitec: Allows you to create and manage virtual cards directly from their app.
  • Nedbank: Enables users to set up multiple virtual cards with customizable spending limits.
  • TymeBank: Offers free virtual cards through their SmartApp for online and QR code payments.
  • PayCentral: Provides virtual cards for businesses and individuals, suitable for various online transactions.

How Virtual Cards Keep You Safe

Virtual cards enhance security in several ways:

  • Privacy Protection: Your real card details are never shared with merchants, reducing the risk of data breaches.
  • Customizable Controls: Set spending limits, expiration dates, and restrict usage to specific merchants.
  • Easy Deactivation: If compromised, you can quickly deactivate the virtual card without affecting your main account.
  • Dynamic Security Codes: Some banks, like FNB, offer virtual cards with CVVs that change periodically, adding an extra layer of security.

Final Thoughts

Virtual cards offer a secure and convenient way to manage your finances, especially for online transactions. By using virtual cards, you can protect your personal information, control your spending, and reduce the risk of fraud.

This post was written by AI and reviewed for quality and accuracy by a real human.