Licensed mobile money operator Chams Mobile and Nigeria-based Skye Bank have launched the virtual Visa card in Nigeria.
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The digital payment card can be used online and on mobiles, both locally and internationally.
Cardholders will get a full card image (the Virtual card) on their mobiles, PCs, or tablets, with a plastic card offered as an option if customers prefer.
It also serves as an alternative online payment for small businesses, corporate companies and membership associations. The virtual card is available under the Kegow, a card brand of Chams Mobile.
Chams Mobile deputy managing director Gavin Young said: "It’s unique in that customers actually see an image of their card on their mobile phones, tablets and PCs, whereby all the essential features of a physical card are shown in its ‘Virtual form’; card number, expiry date and CVV number, for example.
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By GlobalData"This, for many customers, negates the need for a physical plastic card, although we offer plastic cards as an option for customers requiring such.
"It’s also a very diverse product with a number of applications across various business and consumer segments. These include: co-branded cards for ecommerce companies, gift cards (as money can be credited to a recipient’s mobile phone), a naira card for Nigerians in diaspora as it can be issued online, a company allowances card and, as a payment card for retail distribution as it’s supported with a unique invoicing service."
