Faysal Bank Limited has become the first commercial bank of the country, to launch a virtual card.

The “Mobit Virtual Card,” a digital card that will allow e-commerce purchases in a secure manner to meet the modern online payment needs, which can be use if one, do not have any credit card.

“In line with our continued commitment to offer our customers with fast, convenient and state of the art payment solutions, we are pleased to be the first commercial bank in Pakistan to launch a Virtual Card to facilitate online transactions for our customers,” said Mr. Fouad Farrukh, Head of Retail Banking, Faysal Bank, quoted ProPakistan.

“Digital payments in Pakistan are consistently showing an upward trend and with the recent rapid growth in eCommerce transactions, increasing number of our consumers are demanding more secure and convenient payment solutions. Innovative digital payment services like Mobit Virtual Card will play an important role in driving the country’s digital payments & will help foster the development of our financial market,” he added.

It is pertinent to inform that Mobit Virtual Card is powered by MasterCard and works as a reloadable and/or a one-time usage stored-value card.

“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,” stated the Faysal Bank website.

The card can be instantly generated by Faysal Bank customers through Mobit’s Internet Banking and can be used at all local and international online merchants/websites.