By Sam Akpe, Editor-at-Large
As the resurgence of COVID-19 pandemic further limits the movement and gathering of people at public places, First Bank has launched what it calls Virtual Payment alternative, which is a Naira denominated debit card and digital representation of the already popular plastic debit card.
The card is specially designed by the bank to be linked to either a customer’s operative account or wallet account, according to a statement released by the bank’s head of marketing and corporate communications, Folake Ani-Mumuney.
The Virtual Payment Card will serve as a suitable alternative to the use of cash and cheques which demand physical interaction.
Some of the wide-range features of the card include ability of card-holders to protect their cards using the block and unblock capabilities; a PIN Reset; Change PIN, as well as view statement at one’s convenience.
It would also enable the bank’s diaspora customers to spend from their account within the spending limit authorised by the bank without the need for a physical card. The statement observes that the “Virtual Payment Card is a safe, convenient, and easy way of making e-commerce payments amongst other functionalities.”
The bank said the card can be created through its digital channels; FirstMobile or Firstmonie Wallet applications with the customers downloading the card; activating it and consummating transactions all at once from the comfort of their homes or offices.
The bank’s deputy managing director, Mr. Gbenga Shobo, disclosed that “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.”
He explained that “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.”
It would be recalled that the bank recently launched the FAST Track ATM, described as the next generation ATM and the “first of its kind in Africa” designed to promote financial activities on the ATM without any form of physical interaction with the machine.