FNB launches virtual card service for all customers

Hanno Labuschagne

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FNB launches virtual card service for all customers

FNB has announced that its virtual card service is now available to all individual and business customers who use the FNB or RMB Private Bank apps.

This feature can be accessed free within the FNB mobile application for Android and iOS.

“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,” FNB said.
 

backstreetboy

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Initially, FNB said customers will be able to use their virtual cards for ecommerce purchases, streaming services, and QR payments via Scan to Pay on the FNB App.
FNB Card CEO Chris Labuschagne said that security is a key factor for FNB’s virtual card service, and one of the main features of this is a dynamic CVV number which changes every hour – greatly minimising the risk of fraud.
Lol how does this work? You have to update your CVV details monthly?
 

system32

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Lol how does this work? You have to update your CVV details monthly?
Would also like to know.

Dynamic CVV number which changes every hour works fine for once off purchases.
What's the process for recurring purchases?
 

PsyWulf

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The CVV rotates hourly,but seemingly there is a list of merchants it recognizes and doesn't have to update the CVV (like for monthly subs)
Also according to my chat with an agent yesterday you can add as many cards as you like for free
 

RobotWizard

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Inbetween when it was supposed to launch and when it actually launched, I have left FNB, but not quite, because they are still busy trying to close my account, 1 month later...
 

Greglsh

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Where do you go in the app to add these virtual cards?

EDIT: Found it
 

R_D_V

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I was keen to use this service but this dynamic CVV thing is annoying. I get that you have to sacrifice some convenience for extra security but for instance I added a virtual card to Zapper this morning to test out later and of course by the time I used it the payment failed due to incorrect CVV. So for use with apps/services where you require instant convenient payment (and are therefore are more likely to store your card info) most people will still end up using their physical card details. I feel like this defeats the purpose somewhat. Why not provide an option to enable/disable dynamic CVV for certain cards?
 

PsyWulf

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I was keen to use this service but this dynamic CVV thing is annoying. I get that you have to sacrifice some convenience for extra security but for instance I added a virtual card to Zapper this morning to test out later and of course by the time I used it the payment failed due to incorrect CVV. So for use with apps/services where you require instant convenient payment (and are therefore are more likely to store your card info) most people will still end up using their physical card details. I feel like this defeats the purpose somewhat. Why not provide an option to enable/disable dynamic CVV for certain cards?
Reportedly works fine for stuff like Uber,so it's likely a vendor whitelisting thats needed
 

Herr der Verboten

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I was keen to use this service but this dynamic CVV thing is annoying. I get that you have to sacrifice some convenience for extra security but for instance I added a virtual card to Zapper this morning to test out later and of course by the time I used it the payment failed due to incorrect CVV. So for use with apps/services where you require instant convenient payment (and are therefore are more likely to store your card info) most people will still end up using their physical card details. I feel like this defeats the purpose somewhat. Why not provide an option to enable/disable dynamic CVV for certain cards?
Dynamic NuFNB thinking :coffee:
 

krycor

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I was keen to use this service but this dynamic CVV thing is annoying. I get that you have to sacrifice some convenience for extra security but for instance I added a virtual card to Zapper this morning to test out later and of course by the time I used it the payment failed due to incorrect CVV. So for use with apps/services where you require instant convenient payment (and are therefore are more likely to store your card info) most people will still end up using their physical card details. I feel like this defeats the purpose somewhat. Why not provide an option to enable/disable dynamic CVV for certain cards?

sounds like they need to "fix" their system to recognize the bin range of a virtual card and do an auth on it immediately instead of on 1st purchase?
 
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