Shopping online is always limited in Pakistan on account of a lesser number of credit cards in the country and very few means to make payments at merchant’s facility. At the same time, there are not many sites in Pakistan that have any prior arrangement with any payment gateway for accepting your credit card.
Telenor Microfinance Bank has introduced this Virtual Debit Card that is promising a seamless experience for spending online for any purpose.
Also Read: How to open mobile account on Easypaisa
The company through its brand Easypaisa has come up with this virtual card idea which ensures that your card is secure and well within your control.
You can now casually use your card without fear of getting trapped because everything is under your control.
The payment tool is a result of an arrangement between Mastercard and Telenor Microfinance Bank. It is not a plastic card but something electronic that you can see in the shape of a picture on your mobile screen.
How this Virtual Debit Card helps you;
- You can shop online wherever a Mastercard is accepted in the world
- A card can be created by you on your mobile phone in few seconds
- The Virtual Debit Card generated would include all relevant card details to process an online transaction, such as the 16 digit PAN number, expiry date, and the CVV
- You can create as many cards as you want, delete them, pause them and there are no charges for this
- Simultaneously you can create 2 cards
- You can set the spending limit whatever you desire
- Telenor Microfinance Bank guarantees that when you use this card online on any international site, the system will ensure cheapest currency conversion rate as compared to any other bank
- Easypaisa claims that it is the most secure card so far in Pakistan
The Virtual Debit Card has been designed to make life easier for students as well who have to pay the fee for TOEFL, SAT, GRE or applying to a university abroad. Although an Easypaisa account has to be in the name of a user, however, an account holder can gift the card to anyone by just telling the giving the required info (16 digit PAN number, expiry date, and the CVV).
“You can create a Virtual Debit Card for your son and set a certain spending limit for him to use online for anything,” Omar Moeen Malik, Head of Payment Easypaisa told while briefing about the features of the card.
When a purchase is made on any online website, funds in PKR would be deducted from the customer’s Easypaisa Mobile Account in real time.
How to create it?
Anyone in Pakistan can get this card instantly regardless of their SIM operator – all they have to do is download the Easypaisa App from the Google App Store, create an Easypaisa Mobile Account, deposit or IBFT funds to that Easypaisa Mobile Account, create a Virtual Debit Card and then use this card online.
On the following screenshots, you can see the process of creating the card while you are on the homescreen of Easypaisa app.
Also Read: How to make payments through Telenor Easypay
Push the button ‘Virtual Card’ button at the bottom right corner, on the next screen press the + sign to create the card and then select the validity period from the next screen. Easypaisa is offering a 3 year validity period at maximum, but the team hinted that company would be providing an option for more years once the product rolls out successfully.
On the fourth screen, you can set the spending limit, and that’s it, you will have your virtual card on the next screen. Just tap on it, and it will flip over to show the CCV number. You can use these details anywhere online where you see the Mastercard payment option.
Who can benefit from this card
The Easypaisa Virtual Debit Cards would boost customer trust and strengthen the country’s digital payments landscape. In addition to e-commerce portals like AliExpress, Amazon or eBay, the Easypaisa Virtual Debit Card can be used to make payments anywhere online where MasterCard is accepted.
Small and medium businesses in purchasing licensed online software and paying international certification fees; and tourists paying for visa application fees and making logistical payments such as hotels, flights, and transportation, etc.