Banking
Cardtonic vs Cleva Virtual Card: What Nigerians Should Know Before Choosing
The growing digital economy and the Naira card payment restriction have accelerated the rise of virtual card payments. From a single virtual card operator in 2015, Nigerians now have as many options. They can literally get a virtual card in Nigeria today from several platforms.
But among the most popular are highly reliable options like Cardtonic and Cleva. Both virtual cards deliver an excellent experience for shoppers and freelancers in Nigeria alike. They are accepted across global stores and online payment platforms.
Cardtonic is best for making subscription payments, like paying for YouTube Premium. While Cleva is for receiving foreign payments internationally. It is also one of the best ways to send money to Nigeria.
So between Cardtonic and Cleva, which virtual card would you choose? This article explains everything you need to know before choosing a particular option. Let’s get into it
Cardtonic Vs Cleva Virtual Card: Head-to-Head
Let’s compare Cardtonic and Cleva based on value proposition, card creation and other fees, funding options, global acceptance, rating and social sentiment, and extra perks.
| S/No | Factor | Cardtonic | Cleva |
| 1. | Value Proposition | Affordable. High Reliability. Flexible funding. | Receive payment from abroad. |
| 2. | Card Creation and Other Fees | $1.5 Card Creation Fee. 2% Funding Fee | $3 Card Creation Fee. 1% Funding Fee |
| 3. | Funding Options | Bank Transfer; Gift Cards | Bank Transfer; Foreign Payment |
| 4. | Global Acceptance | Wider acceptance at global locations | Wide Acceptance |
| 5. | Rating and Social Sentiment | 43.6% Positive Sentiment. | 36.7% Positive Sentiment
|
| 6. | Extra Perks | Multi-purpose app | Sleek User Interface. Speedy Customer Support. |
1. Overview and Value Proposition
Cardtonic:
Nigeria’s premium gift card brand, Cardtonic, offers virtual cards so users can navigate international payment restrictions without stress. It’s the most flexible option around, letting you fund your wallet in Naira via bank transfer or gift cards.
Furthermore, Cardtonic’s conversion fees are also very competitive, whether you are converting from Naira to USD or vice versa. You are guaranteed to get the best value for your funds.
One thing that truly stands out is that Cardtonic isn’t a one-off provider; it’s a full-scale fintech solution. Within a single app, you can access virtual dollar cards and pay utility bills, trade gift cards, shop for gadgets, and even buy eSIMs.
But how do you set up a Cardtonic virtual card? Getting started is quite straightforward. You need to download the Cardtonic app, complete KYC, and then create a virtual card in-app and fund it.
Then head to your payment page, key in your card details, just as you would use a physical card, and boom! Your payment goes through instantly.
Cleva:
Cleva is a standard solution that lets you make and receive international payments in USD. You open a Cleva USD account, and you get a virtual card linked to your account. Well, it isn’t automatic; you need to create the card and pay the card creation fee.
Cleva is particularly well-suited for freelancers and offers an alternative to major payment platforms like PayPal. You can use Cleva to receive payment from major freelance sites like Fiverr and Upwork
Unlike Cardtonic, Cleva allows you to receive and make payments. It’s not either/or; it’s both.
Once the payment arrives in your USD account, you can convert and pay out in Naira. Otherwise, you can use them to fund your virtual cards so you can shop online and pay for digital subscriptions.
2. Card Creation and Other Fees
Cardtonic charges a low card creation fee of $1.5 for a regular card and $5 for the platinum version. Unlike the regular cards, the platinum cards offer extra flexibility. You can add them to your digital wallet, like Apple/Google Pay, to make quick payments from your device without ever needing a physical card.
Additionally, Cardtonic has no monthly or maintenance fees, so you’re never charged if your card goes unused. What’s more? Cardtonic’s funding fees are capped at 2% of the Naira value. And when you indeed make a transaction, you get charged just a fraction as transaction fees.
Lastly, the Cardtonic app is one of the few platforms where you can get the best exchange rates when converting between USD and Naira. The rates often match the prevailing market price.
On the flip side, Cleva offers a low-fee structure. For example, you get charged just $1 for up to $100; that is 1% funding fees, cheaper than most payment providers. Its card creation fee isn’t over the roof either. You get charged only $3, with $1 credited to your card balance and available for use.
But similar to Cardtonic, there are no card maintenance fees whatsoever. Cleva does not charge rent; you are free to use your card at any time and you only get charged when you do so.
3. Funding Options
Cardtonic offers the most seamless card funding options: You can fund your digital wallet in Naira via bank transfer or even gift cards. Once your wallet is funded, you can convert Naira to USD and top up your virtual dollar card. You can then pay or shop at your favorite global platforms like Amazon and Macy’s.
When it comes to Cleva, it’s a little different. You can fund your Cleva virtual card via a bank transfer from within or outside Nigeria. You always have decent options, like US wire, ACH, or even stablecoins, available for you to receive payment from abroad.
Stablecoin payments are available for remote workers whose clients pay in crypto. They are typically settled in less than 5 minutes and provide an effective way to fund your Cleva USD account.
4. Global Acceptance
The Cardtonic virtual card is a popular payment option supported at global merchants, particularly at vendors that accept Visa or Mastercard. That said, you can shop at eBay or Amazon and subscribe to ChatGPT, Google Cloud, and Workspace.
You also get to enjoy contactless payment. Another extra value added. You add your platinum virtual card to Apple or Google Pay and pay simply by tapping your device on supported payment terminals. That’s speed and convenience merged into one.
Other platforms where the Cardtonic virtual cards are accepted include Grammarly, Twitter Blue, Google Ads, YouTube Premium, Canva Pro, and Adobe Creative Cloud.
Comparatively, Cleva is accepted at global locations with the Visa or Mastercard logos. Like Cardtonic, you can shop at your favorite global e-commerce stores like Amazon or eBay. Additionally, you can use your Cleva virtual card to subscribe to Netflix or run Facebook or Google ads.
5. Rating and Social Sentiments
While both products are strong options for paying internationally, ratings on Google Play showed that Cardtonic has a 4.6-star rating out of 20k reviews. Cleva, on the other hand, has received 4.7 out of 5k reviews. However, you should keep in mind that Cardtonic has way more product offerings than Cleva.
Secondly, the Virtual Card in Nigeria Report indicates that Cardtonic is hugely more popular than its counterpart. It has a stronger total number of X mentions than Cleva: 278 total tweets, ahead of Cleva’s 49.
Social sentiment also favors Cardtonic over the Cleva virtual card. Cardtonic led with a positive score of 43.6%, ahead of Cleva’s 36.7%. Overall, Cardtonic is praised for its reliability in supporting Apple and Namecheap payments, while Cleva is recognized for its sleek user interface and speedy support.
Frequently Asked Questions About Cleva and Cardtonic Virtual Card
- Which Virtual Card is Best in Nigeria?
The best virtual card in Nigeria currently is Cardtonic due to its high reliability. Since its launch in 2024, it has continually enabled Nigerians to pay across popular global destinations without stress.
Besides, the Cardtonic virtual card is cost-effective and provides the strongest security and the most flexible funding options.
- Cardtonic vs. Cleva: Which is Cheaper?
Overall, Cardtonic is cheaper: In terms of card creation fees, Cardtonic charges $1.5 compared to Cleva’s $3. And as regards card funding fees, Cardtonic charges about 1.5% on Naira deposits, with a maximum of 2,000 Naira overall. Alternatively, Cleva charges only 1% for funding in USD.
- Can Funds be Added in Naira?
Yes, Cardtonic lets you fund your digital wallet directly in Naira via bank transfer or gift card sales. Alternatively, Cleva has also launched its Naira funding feature. With this, you can transfer from any local bank app and have your Cleva NGN account credited.
- Cardtonic vs. Cleva: What Should Nigerians Consider Before Choosing?
It is important to consider your use case before choosing between the Cardtonic and Cleva virtual cards. For example, if you want to receive funds from abroad, choose Cleva. If you wish to make a payment or subscribe to popular channels, then you can choose from either Cardtonic or Cleva. However, Cardtonic offers a full fintech package.
Other factors to consider before choosing a virtual card include fees and exchange rates. If you want lower fees or the best conversion rates, the Cardtonic virtual card is your best option.
- Can Cleva Receive Money from Abroad?
Yes, Cleva has a USD account feature that allows users to receive payments via US wire or ACH from global locations. Additionally, Cleva supports stablecoins, so you can also receive USDT and USDC from abroad directly to your USD wallet.
- How Long Does it Take to Receive Payment on Cleva?
It all depends on the payment option. General ACH payment takes 1–3 business days. While wire transfer from the US takes 1 to 2 days. Meanwhile, stablecoins take less than five minutes.
Conclusion
Cardtonic vs. Cleva: Which should you choose? Well, it all depends on your needs and preferences. Choose Cardtonic if you need an all-in-one app for fintech payments and gift card trading.
Then choose Cleva if you’re a remote worker looking for an alternative means to receive payment from abroad. They may not be as popular as their counterparts, but they do work.
Cardtonic clearly outperforms Cleva, as evidenced by its user feedback and statistics. It has way more users, the most flexible funding, and the cheapest fees, and it clearly supports a wider range of platforms than Cleva.
By Adedapo Adesanya
Nigerian tier-1 lender, First Bank, has announced the introduction of its Naira Visa Debit Card in partnership with the global payments giant to extend accessible, reliable electronic payment capabilities to a broader segment of the Nigerian population.
The card is targeted at everyday consumers who require a dependable payment instrument for routine domestic and international transactions. Accepted across POS terminals, ATMs, and online platforms through Visa’s payments network, the Naira Visa Debit Card is designed to reduce friction for customers transitioning from cash to electronic payments across retail, utilities, and digital commerce.
According to the bank, the partnership aligns with Nigeria’s ongoing drive toward a cashless economy, a policy direction that has gained significant momentum following successive Central Bank of Nigeria directives encouraging the adoption of electronic payment channels, adding that the card is intended to serve customers across the country’s diverse economic segments.
The Naira Visa Debit Card is available to all eligible FirstBank account holders through any of the bank’s branches nationwide.
Speaking on the launch, Mr Chuma Ezirim, Group Executive, eBusiness & Retail Products, FirstBank, said: “Everyday transactions should be simple, secure, and rewarding. The Naira Visa Debit Card is designed to make life easier for our customers, whether they are paying for groceries, settling utility bills, or shopping online.
“By extending reliable electronic payment access across Nigeria, we are helping more people transition confidently from cash to digital payments, supporting the nation’s cashless policy and empowering communities with greater financial inclusion.”
Commenting on the strategic importance of the partnership, Mr Andrew Uaboi, Vice President and Cluster Head, West Africa, Visa, noted: “A strong payments ecosystem works for everyone. The Naira Visa Debit Card extends reliable electronic payment access to everyday Nigerian consumers, and this in addition to the cards in our portfolio, continues to demonstrate what a truly comprehensive card portfolio looks like for the Nigerian market. Visa is proud to power this offering with FirstBank.”
The launch of the Naira Visa Debit Card broadens Visa’s card portfolio at FirstBank, which already includes products spanning credit cards and High-end premium lifestyle spending cards. The addition completes its offering across customer segments, ensuring that cardholders at every income level have access to a product suited to their needs.
By Adedapo Adesanya
The Central Bank of Nigeria (CBN) has unveiled the fourth edition of its Foreign Exchange Manual as part of efforts to deepen liquidity, improve transparency and strengthen confidence in the country’s foreign exchange market.
Speaking at the launch of the revised manual in Abuja on Friday, the Governor of the apex bank, Mr Yemi Cardoso, said the document will take effect from June 1, 2026.
He said it was developed after extensive consultations with banks, exporters, importers, corporates, regulators and development partners.
He said the new framework reflects the apex bank’s commitment to modernising the country’s foreign exchange administration in line with international best practices.
Mr Cardoso described the foreign exchange market as a critical pillar of any open economy, noting that effective governance of the sector is essential for sustaining macroeconomic stability and investor confidence.
“Foreign exchange is more than a financial instrument. It anchors price stability, facilitates the flow of goods and capital, and shapes investor sentiment,” he said.
The CBN governor stressed that the revised manual became necessary due to changing global economic realities, domestic reforms and the need for a more coherent and forward-looking regulatory framework.
According to him, the last edition of the FX manual was issued in 2018, making the latest review both timely and necessary.
Mr Cardoso disclosed that Nigeria’s foreign exchange market has witnessed significant improvement in liquidity since the current administration began reforms in the sector.
He added that daily turnover in the FX market increased from an average of about $100 million in the early days of the administration to between $400 million and $600 million daily.
The CBN Governor added that the market had also recorded transactions of up to $1 billion per day on several occasions in recent months.
“We have gone from a situation where it was more or less a one-way market, where the central bank came in, intervened and went away, to a much more dynamic market,” he stated.
The apex bank boss noted that the reforms were gradually restoring confidence among investors and market participants, encouraging freer entry and exit in the market without unnecessary restrictions.
He also maintained that the nation’s foreign reserves should not be used as the primary tool for funding the foreign exchange market.
“Reserves are reserves. They are not what you look to fund a market,” he said.
The CBN Governor assured stakeholders that the revised manual would be distributed free of charge to authorised dealers while the bank strengthens monitoring mechanisms to ensure compliance, fairness and accountability across the foreign exchange market.
On his part, the Deputy Governor for Economic Policy, Mr Muhammad Abdullahi, said the review formed part of broader reforms initiated by Mr Cardoso to restore confidence, improve transparency and deepen liquidity in the foreign exchange market.
Mr Abdullahi explained that the revised manual introduces several changes aimed at improving ease of doing business and reducing transaction bottlenecks.
Among the notable changes, he noted, are provisions allowing unfettered access to export proceeds, the introduction of non-resident investment accounts and operational guidelines for Pan-African Payment and Settlement System (PAPSS) transactions to support regional trade.
Mr Abdullahi added that the manual also contains new provisions on service exports, revised documentation requirements and updated operational procedures designed to align Nigeria’s FX market with global standards.
He said the apex bank deliberately adopted an ease of doing business approach during the review process to eliminate inefficiencies and ambiguities identified by stakeholders.
“The revised manual is not a stand-alone exercise but part of a broader institutional reform effort designed to strengthen the integrity, credibility and effectiveness of Nigeria’s foreign exchange system,” he said.
By Aduragbemi Omiyale
The Central Bank of Nigeria (CBN) has approved the appointment of Mr Julius Omodayo-Owotuga to the board of First Bank of Nigeria Limited as an executive director.
A statement from the company said the appointment of Mr Omodayo-Owotuga became effective on Wednesday, May 13, 2026.
He was appointed to the board of the subsidiary of First Holdco Plc to further strengthen its leadership capacity across strategic finance, governance, risk management, and institutional transformation.
Before now, he served on the board of First Holdco as a non-executive director between 2021 and 2026.
The appointee brings to the board 24 years of experience spanning banking and financial services, infrastructure finance, power, oil & gas, and audit and consulting.
His appointment, according to the notice to the Nigerian Exchange (NGX) Limited, reflects the Bank’s continued commitment to strong governance, disciplined execution, financial resilience, and sustainable long-term growth.
He most recently served as deputy chief executive of Geregu Power Plc, Nigeria’s first listed power generation company, where he played a pivotal role in institutional transformation, governance strengthening, capital market positioning, operational optimisation, and major financing initiatives, including the company’s landmark listing on NGX.
Mr Omodayo-Owotuga previously served as group executive director, Finance & Risk Management at Forte Oil Plc (now Ardova Plc), where he was instrumental in the company’s financial and operational transformation, leading strategic restructuring, capital raising, treasury optimisation, enterprise risk management, and governance improvement initiatives that strengthened long-term shareholder value.
His professional career also includes roles at Africa Finance Corporation, Standard Chartered Bank, KPMG Professional Services and MBC International Bank (Now First Bank Nigeria Limited), providing him with deep experience in institutional finance, treasury management, financial controls, regulatory engagement, and corporate advisory.
Mr Omodayo-Owotuga is a CFA Charter Holder, KPMG-trained Accountant, and a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), the Chartered Institute of Taxation of Nigeria (CITN), and the Institute of Credit Administration. He is also a member of the Institute of Directors (IoD) Nigeria and a Certified Management Accountant.
He holds a Doctorate in Business Administration, a Master’s in Business Administration and a Bachelor’s degree in Accounting. He is an alumnus of Saïd Business School, University of Oxford, IE Business School, Geneva Business School, and the University of Lagos.
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