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Sourced from Htxt.Africa South African bank, FNB has revealed that contactless payments have surpassed Chip and PIN contact payments for the first time ever among its Credit, Debit, Fusion, and Virtual Card users. The Bank attributes the behavioural shift (from chip contact to contactless) to consumer’s preference and awareness of safer, convenient, and quicker means to pay at a Point-of-Sale. “This is a remarkable milestone for the financial services industry, and it augurs well for efforts to improve safety and convenience in the payments network,” says Raj Makanjee, Payments Executiv...

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, […]

Published May 14, 2021 Are you tired of having your credit card associated with a laundry list of websites, leaving it exposed to any type of data breach? If so, maybe it’s time to try out a virtual card. Featured Video Hide Virtual cards provide an extra layer of defense from online fraud at a time when most people are shopping online. E-commerce exploded last year as many people were forced to shop from home when the coronavirus pandemic closed down stores. Advertisement Hide But with that increase in online shopping came a spike in fr...

Zumo launches virtual Visa debit card Zumo, the Edinburgh-based crypto wallet, has today announced the launch of its Zumo virtual card. This new product allows users in the UK to make purchases at any online retailer which accepts Visa.  Zumo is the first non-custodial crypto wallet to offer users the ability to hold GBP in their wallet to then spend with a Visa card. The virtual card is the result of a partnership between Zumo and digital payments platform Modulr. Modulr provides the underlying GBP payments infrastructure upon which Zumo builds and enhances its services. Th...

What is a Neo-bank? Neo-banks are fintech companies providing 100% digital, cutting-edge banking services. They have done away with physical branches by moving all their services online and crafting digital banking solutions. The lack of physical branches helps neo-banks save on their banking overheads and extend extra benefits to their customers by cutting fees and expanding their services to the underbanked segment.    In the recent years, the penetration of smartphones has increased manifolds and all services imaginable are available at the tip of your fingers. Millennials worldwide are ...