First National Bank (FNB), one of the “big five” South African banks, has made its virtual card available to all individual and business customers, following its beta testing.

The card will be available for free to the bank’s customers who use the FNB or RMB Private Bank apps.

They can also create multiple virtual cards for each account without any cost, and make both domestic and international payments.

In a statement, FNB said: “Customers can immediately load the virtual card on their FNB and/or RMB Private Bank profile and link it to a debit, credit or fusion account at no additional cost to shop safely and conveniently.”

The virtual cards can be loaded on online shopping websites or apps for easy checkout as well as wearables for contactless payments.

Initially, customers can make online purchases, QR payments via ‘Scan to Pay’, and pay for streaming services using the card.

Later, the virtual cards will also support the use of contactless “Tap to Pay” digital wallets.

The bank added: “These include but are not limited to FNB Pay and Samsung Pay, ensuring our customers enjoy a complete digital experience.”

FNB payments executive Raj Makanjee added: “The roll-out of our Virtual Card offers our individual and business customers a wider choice of safer payment methods when shopping online or at a point of sale.”

The virtual card features a dynamic CVV number that changes every hour, minimising the risk of fraud.

The bank claims that the card number, CVV, and expiry date cannot be viewed at the same time within the app.

FNB Card CEO Chris Labuschagne said: “The virtual card is safely stored on the app and customers can temporarily block, cancel or replace their card via the app.

“In addition, and testament to our innovative nature, we did not need to create a new store of value for customers to access this functionality as it works on all existing transactional accounts.”