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

In a statement issued on Sunday, January 10,2021 titled ‘First Bank 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.

“The 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 account within the spend limit advised by the bank without the need for a physical card,” It said.

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

“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),” The bank stated further.

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

“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 staffs. We enjoin our customers to download the application and stay ahead in modern banking.” Shobo said.

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