Tired of carrying around your plastic debit or credit card? Well after Easypaisa virtual debit card, UBL has introduced its Wiz Virtual Prepaid Card for fuss free online shopping.
The virtual prepaid card gives the user flexibility of a debit or credit card but provides additional security as the user doesn’t need to disclose their card details to any platform/ e-commerce channel online.
How to Get UBL Wiz Virtual Prepaid Card?
You can create your virtual prepaid card in a matter of minutes only if you are a UBL account holder. You can get your virtual card by :
- Logging into your UBL Netbanking (for registered users only)
- Dial 111-825-888 and ask for Wiz Virtual Prepaid Card
Once the card is generated, you will receive the Card Number, CVV, and Expiry Date through a combination of SMS and email.
You can load or reload your card your virtual card either by contacting the call center or through Netbanking.
The maximum amount that can be reloaded on the card at any moment is Rs. 100,000
How does it Work?
The virtual debit card is specially designed to cater all the online payment needs. It is powered by MasterCard and thus will be accepted by all merchants who support this payment solution, domestic or international.
As the user is not bound to share their Credit or Debit Card details for online transactions while using the virtual card, they are less at risk for financial fraud.
The best part about this service is that the user doesn’t have to be involved in any frustrating paperwork
A user can get up to 5 virtual accounts against their account at any given time. The spending limit is the amount of money that is present in your card which will be deducted everytime you’ll make a payment online.
Also, you will receive the transaction details and remaining limit updates via SMS for free on your mobile phones.
Fees related to Virtual Prepaid Card
The user will be charged Rs. 300+ FED at the time of issuance of their card but there are no hidden fees for loading or reloading their prepaid card.
For international transactions, any purchase in currency is USD and PKR will be charged 4% of the transaction amount whereas no charges will have to be paid in a transaction in other currencies.
In case of a declined domestic transaction due to low payment or excess over the limit, the user will be charged Rs. 5 while for the international transaction they’ll have to pay Rs. 35.
Maximum loading limit for a non-biometrically verified UBL customer is Rs. 100,000 for a calendar year (12 months) whereas the biometrically verified users can enjoy Rs. 500,000 limit in a single year.
Telenor Bank recently closed Easypaisa virtual debit card in Pakistan as the State Bank has shown its concerns over the international payments through these cards which are disturbing the balance for national kitty. So now the big question is that whether the UBL’s virtual prepaid card will suffer the same fate or not.