Ecobank launches virtual card for online payments

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Ecobank Group is GOLD Sponsor for Africa Fintech Summits in Washington, D.C. and Cape Town
Ecobank Group is GOLD Sponsor for Africa Fintech Summits in Washington, D.C. and Cape Town

Ecobank has launched the virtual card, a digital payment solution for safe online payments, integrated into its digital banking channel, Ecobank Mobile. The Ecobank Virtual Card was rolled out in the recently released version of the award-winning Ecobank Mobile app which is available for download at the Google Play and App Stores. All Ecobank current, savings and Xpress account holders who are onboarded on the Ecobank Mobile app can now access a virtual card for their online payment needs.

“The Ecobank Virtual Card is a safe and secure way to make online payments without having to use your plastic debit, prepaid or credit card,” said Korede Demola-Adeniyi, Head, Consumer Bank, Ecobank Nigeria.
Further, she noted that “customers may use it for their online shopping needs, share or create gift cards for loved ones who can benefit from this innovative form of payment. The Ecobank Virtual Card is stored on the mobile banking profile of each Ecobank customer who requests one. Access to the card is password protected and encrypted for user safety. Deleting or blocking a virtual card is very easy and can be done so at the touch of a button when logged into the Ecobank Mobile App.”
According to Mrs Demola-Adeniyi, “the Ecobank virtual card supports recurrent payments and can easily be used for Apple Music, Netflix or other online subscriptions. The Ecobank Virtual Card is prepaid and users simply fund each card with the amount they would like to spend online or gift someone else. This gives the cardholder the flexibility and control overspending. Users also receive an SMS and email notification for every transaction done which enables easy tracking of transactions.”
She noted that the bank is “able to offer co-branded virtual gift cards to large e-commerce merchants which can be restricted for use on their websites or apps. We welcome them to contact us to discuss further. Getting an Ecobank Virtual Card is also a very convenient process and does not require a trip to a branch to activate or pick up.”

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