Easypaisa launches Pakistan’s first MasterCard-branded Virtual Debit Card
Now, any Easypaisa Account customer using the Easypaisa smartphone App can instantly generate a Virtual Debit Card using the Easypaisa App on their smartphone and then use this card for online payments - wherever MasterCard is accepted. The Virtual Debit Card generated would include all relevant card details to process an online transaction, such as the 16 digit PAN number, expiry date and the CVV. When a purchase is made on any online website, funds in PKR would be deducted from the customer’s Easypaisa Account in real time. Anyone in Pakistan can get this card instantly regardless of their SIM operator – all they have to do is download the Easypaisa App from the Apple or Google App store, create an Easypaisa Account, deposit or IBFT funds to that Easypaisa Account, create a Virtual Debit Card and then use this card online.
The Easypaisa Virtual Debit Card is the most secure debit card in the country, because of the controls and flexibility it gives to the customer at the time of card generation. Customers can define a maximum spending limit to allocate to their Virtual Debit Card, the number of times a card can be used online, the ability to activate or deactivate a card, and to delete and re-generate a new Virtual Debit Card at any time. No fee will be charged to generate or use a card or any of the controls while the currency conversation rate on international transactions would be the lowest than any other credit or debit card issued by any bank in the country.
Despite there being more than 30 million issued cards in Pakistan, there are only half a million cards active for digital payments in any given month. That is because not everybody in Pakistan has a credit or debit card and there are very few online and retail merchants who accept card payments, but probably the biggest reason is that a lot of customers are afraid of using their cards for payments because of online identity theft and fraud. With e-commerce picking up significantly and more customers purchasing online, we are very happy to introduce a product that gives 100% control to the customers and is the most secure debit card in the country to use for online transactions.
The Easypaisa Virtual Debit Cards would boost customer trust and strengthen the country’s digital payments landscape. In addition to e-commerce portals like AliExpress, Amazon or Ebay, the Easypaisa Virtual Debit Card can be used to make payments anywhere online where MasterCard is accepted. For instance, the product would be a huge help for: students looking to pay their TOEFL, SAT or GRE fee, or applying to a university abroad; small and medium businesses in purchasing licensed online software and paying international certification fees; and tourists paying for visa application fees and making logistical payments such as hotels, flights and transportation etc.