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7 Benefits of Virtual Cards for Businesses

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Virtual bank cards are set to take businesses across a new digital frontier, improving banking safety parameters while offering a convenient payment experience. Lauren Deva, Pillar Head for Commercial Transactional Pillar at FNB Commercial, says the move towards virtual cards in South Africa is an essential one for the digital transformation journey of businesses. Moreover, it coincides with the phasing out of cheques, which are no longer accepted as a valid payment method. With that in mind, here are 7 key benefits of Virtual Cards for businesses: Businesses can easily facilitate business-to-business payments. The Virtual Card removes the need for individual corporate cards as it can be safely used by multiple people and the CVV constantly updates. Considerably reduces the risk of on...

FNB Virtual Credit Card Delayed, Confirms CEO FNB Virtual Credit Card Delayed, Confirms CEO
Politics

FNB Virtual Credit Card Delayed, Confirms CEO

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FNB Card CEO, Chris Labuschagne has revealed that the bank will delay the launch of its virtual credit cards until 2021 – a strategic move that is said to “ensure that the launch process goes as smoothly as possible for its customers”. “FNB is excited to confirm that it has successfully completed the pilot of its Virtual Card. In order to enable a seamless transition for customers, the Bank has decided to delay the launch of its Virtual Card to 2021,” say Labuschagne in a statement to My Broadband. “We are excited at the prospect of offering exceptional customer experience and a convenient and safer way to help customers manage money.” The bank unveiled the virtual credit cards – along with debit cards – earlier this year. Raj Makanjee, FNB Payments Executive ...