First Bank Introduces Virtual Payment Card for Seamless Transactions

January 15, 2021
First Bank Virtual Payment Card

By Modupe Gbadeyanka

A Naira denominated debit card and digital representation of the plastic debit card has been introduced by First of Bank of Nigeria Limited.

The new device, called the Virtual Payment Card, can be used as an alternative of cash and cheques for online transactions because it is an easy way of making e-commerce payments amongst other functionalities as it was designed to be linked to either a customer’s operative account or wallet account.

The card was imbedded with wide-range features, including the ability of cardholders to protect it by 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 their First Bank account within the spending limit advised by the bank without the need for a physical card.

The Virtual Payment Card, according to a statement from the lender, can be created via the FirstMobile or Firstmonie Wallet applications.

Also, customers can download the card, activate and consummate transactions all at once from the comfort of their homes/offices as there is no need for visiting any branch of the bank for this.

Customers have been 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).

”The launch of our Virtual Payment Card is yet another secure and seamless way we promote electronic banking, whilst enabling customers to carry out their transactions on the web,” the Deputy Managing Director of First Bank, Mr Gbenga Shobo, stated.

“The Virtual Payment Card is also designed to guard against the spread of the COVID-19 as it does not require physical interaction between the customer and First Bank branches. We enjoin our customers to download the application and stay ahead in modern banking,” he added.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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