FNB customers are increasingly embracing secure, digital-first payment solutions, driving a 47% increase in virtual card transaction values over the past financial year. The growth reflects changing customer payment behaviour across FNB’s ecosystem, which now serves more than 19 million regular platform users and over 12 million banking customers.
The continued adoption of virtual cards highlights how customers are choosing digital channels to manage their finances. Whether shopping online, paying in-store, booking travel or managing subscriptions, customers seek payment solutions that offer convenience, control and enhanced security.
The growth in virtual card usage forms part of a broader trend across the bank’s digital ecosystem. Digital transactions increasing by 7% year-on-year and FNB Banking App transaction volumes growing by 10%, demonstrate the critical role digital platforms play in customers’ everyday banking experiences.
Philani Potwana, Managing Executive, FNB Private Everyday Banking says, “The growth in virtual card usage highlights how rapidly customer payment behaviour is evolving. Today’s customers expect payment experiences that are simple, secure and available wherever they choose to transact, whether online, in-store or through their preferred digital wallets. Virtual cards have become a cornerstone of digital payments because they combine convenience with enhanced security and greater control. The 47% increase in transaction values reflects growing customer confidence in digital payment solutions and reinforces our commitment to delivering innovative payment experiences that make banking easier and more rewarding for customers.”
Beyond convenience, security remains one of the key reasons customers increasingly choose virtual cards. Unlike physical cards, FNB Virtual Cards can only be directly accessed within the FNB Banking App and feature a dynamic Card Verification Value (CVV) that changes regularly. This provides an additional layer of protection for online transactions and reduces the risk associated with compromised card details.
Potwana adds, “Security is one of the biggest considerations for customers when making digital payments. Virtual cards provide enhanced protection because card details are stored securely within the app, while customers can access the dynamic CVV whenever they need it for online purchases. This significantly reduces risk and gives customers greater confidence when transacting digitally.
“Combined with the ability to instantly freeze or unfreeze cards, manage spending controls and monitor transactions through the FNB Banking App, virtual cards place more control directly in customers’ hands. In an increasingly digital world, customers want payment solutions that deliver both convenience and peace of mind.” FNB’s Virtual Card enables customers to transact securely by creating a digital card linked to their qualifying accounts. Customers can seamlessly add their virtual cards to supported digital wallets, allowing them to make contactless payments using smartphones, smartwatches and other enabled devices.
As digital payment behaviour continues to evolve, customers are increasingly integrating virtual cards into their everyday spending habits, moving beyond occasional use to regular, daily transactions. Jason Viljoen, Head of Digital Payments at FNB, says, “The data further tells a compelling story about changing consumer behaviour.
We are seeing digital payment solutions move from being an alternative payment method to becoming embedded in customers’ everyday transaction habits. “Strong growth in virtual card spending, combined with increased digital engagement across the FNB App and other digital channels, shows that customers increasingly value solutions that offer convenience, speed and security.”
“Our insights show that customers are becoming increasingly aware of the importance of digital payment security. Our Virtual Card’s and dynamic CVVs help mitigate common fraud risks associated with card-not-present transactions, while maintaining a seamless payment experience. As customers become more digitally active, security features like these play an increasingly important role in driving adoption.”
Potwana says the continued growth in digital payment adoption is underpinned by strong customer engagement across FNB’s digital ecosystem.
The alignment of eBucks rewards to Virtual Card usage has also accelerated the adoption of digital payments, encouraging customers to shift everyday spending to more secure payment methods. By linking rewards, reward level progression and partner-specific earn opportunities to Virtual Card transactions, FNB has driven increased usage across categories such as groceries, fuel, health and lifestyle, while deepening customer engagement with the broader eBucks ecosystem. The results demonstrate how meaningful rewards can drive lasting behavioural change while enhancing security, digital adoption and customer value.
“As the payments landscape continues to evolve, our priority remains on enabling customers to transact with confidence through secure, intuitive and innovative solutions. By continuously enhancing our digital capabilities, we are helping customers navigate and participate more effectively in a digital-first economy,” he concludes.
