Faysal Bank Limited was the first commercial bank to launch a virtual card in the country. Their “Mobit Virtual Card” is a digital card that allows secure e-commerce purchases even if you do not have any credit or debit card.
Mobit Virtual Card is powered by MasterCard and provides you with a peace of mind as you never share your actual physical debit card details online.
Types of Mobit Prepaid Virtual Cards
Faysal Bank provides two options for their customers.
Burner Virtual Card (One Time Usage)
Let’s say, you don’t shop online frequently but now there is a need to buy something online. Faysal Bank has an answer for this scenario. Burner Virtual Card is less costly and adheres to the need for one-time shopping.
Reloadable Virtual Card
As the name suggests, its a card for frequent shoppers. The card can be reloaded at any time and thus can be used multiple times.
Virtual Cards Benefits
- Create your card instantly
- No paperwork involved or long bank queues to get the card
- Set your own spending limits
- Protect yourself from online data thefts and scams
- Spend only as much as you want
- Free & instant reloads (for Reloadable Virtual cards)
- No need to carry around a physical plastic card.
How to Get Mobit Virtual Card?
You can create your virtual prepaid card in a matter of minutes only if you are a Faysal Bank account holder. You can get your virtual card by:
- Logging into your Mobit internet banking (for registered users only)
- If you still have not activated your internet banking, do so and it’s free of charge.
- Faysal Bank does not provide the facility to receive the card details through SMS and Email.
- Once the card is generated, the Card Number, card verification code and, Expiry Date will be made visible on Internet Banking immediately. That’s all you need to shop online.
You can load or reload your card through the same Netbanking by transferring the desired amount from your account. For any further queries, you can contact them at 111 06 06 06.
How Does it Work?
To use the Mobit Virtual Card for making online purchases and payments, just select MasterCard as the payment type on the merchant website and simply enter your Virtual Card details. The Mobit Virtual Card works on any website where MasterCard® is accepted.
Examples of usage would include:
- Online payment for international certifications like ACCA, ICMAP, SAT, Toefl, IELTS, or university abroad, etc.
- Shop online at eCommerce website like Daraz, YayVo, AliExpress, etc.
- Buy music at iTunes, Google music, Amazon Mp3, Napster, etc.
- Purchase from the Google Play store, Apple store, etc.
- Make payments at Facebook, LinkedIn, Youtube, etc.
- And much more.
Fees Related to Virtual Prepaid Cards
There are no charges for Virtual Card Reload, Local currency transactions, and a declined transaction for whatever reason.
Issuance Fee for One Time/Bunner Cards
- Rs.50 for up to Rs.3,000 limit
- Rs.100 for up to Rs.5,000 limit
- Rs.200 for up to Rs.20,000 limit
- Rs.300 for up to Rs.50,000 limit
- Rs.400 for up to Rs.100,000 limit
Issuance Fee for Reloadable Cards
- Rs.100 for up to Rs.3,000 limit
- Rs.150 for up to Rs.5,000 limit
- Rs.250 for up to Rs.20,000 limit
- Rs.350 for up to Rs.50,000 limit
- Rs.450 for up to Rs.100,000 limit
For international transactions, any purchase in currency USD and PKR will be charged 3.5% of the transaction amount including the charges by MasterCard that means 0.5% fewer charges than UBL Viz Virtual Debit Card.
Maximum loading limit for a Faysal Bank mobit customer is Rs. 100,000 for a 6 months period.