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| Moniepoint Verve Card Picture |
Moniepoint does not currently offer a virtual card. Instead, it provides a physical debit card that can be used for both online and in-person transactions. This debit card is issued through global payment processors like Verve, allowing you to make payments at ATMs, POS terminals, and online platforms.
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| Moniepoint Virtual Card Coming Soon! |
A Virtual Card is a type of payment card that's designed to facilitate online transactions only, providing users with a secure and convenient way to make payments without needing a physical card.
As Moniepoint currently does not offer a virtual card as part of its banking services, there are other option you can explore; Moniepoint physical debit card. The Moniepoint ATM Card can be activated and managed through the Moniepoint app. Here are everything you need to know about the Moniepoint debit card.
How to Use the Moniepoint Debit Card
To use the Moniepoint card, kindly follow these steps:
- Download the Moniepoint App from the play store or app store, and start by registering an account. Follow this guide to create a Moniepoint personal banking account and here to know the requirements to upgrade to business account.
- Once you've created your account using valid email address and phone number, then you can process to requesting a debit card. However, when moniepoint introduces a Virtual Card, you'll see all the Card Details in your Dashboard. Currently, you can also manage your physical debit card details such as PAN, CVV and Expiry Date in your Moniepoint Dashboard.
- Once you receive your physical card, activate it through the app. You can follow this guide to easily and successfully activate the ATM Card.
Using the Card
When launched, you can use the Moniepoint Virtual Card to make purchases online anywhere verse card and naira is accepted. especially as their primary acceptable currencies.
Conclusion
While Moniepoint has launched a consumer app and debit card for personal banking, the focus is on physical cards rather than virtual ones. Users can apply for the debit card through the Moniepoint app and enjoy various benefits, including seamless payments and support for transactions at over 1.5 million businesses.
According to report, Moniepoint has issued over 17 millions verve card. This significant shift is due to changes in consumer behavior and macroeconomic conditions, making Nigerian banks to increasingly issuing Verve cards instead of international ones like MasterCard and VISA.
Furthermore, insights from Moniepoint’s informal economy report reviews that Cards, Most Especially Verve, Dominate Offline Payments in Nigeria and Nigerian Businesses would Rather Save Money on Digital Platforms than Banks.
In a nutshell, while Moniepoint does not provide a virtual card, its physical debit card offers a range of functionalities for personal banking, including easy activation, transaction management, and support for various payment methods.
