Moniepoint is one of the best fintech companies in Nigeria offering spending cards that can be used to make a web purchase, POS payments/withdrawals and ATMs usage.
In this article, we will walking you through Moniepoint Cards and emphasizing more on its virtual card. Many customers have been asking questions regarding Moniepoint virtual cards and we will provide answers to all the questions in this article.
Does Moniepoint Have Virtual Cards?
No, Moniepoint does not offer virtual cards to its customers. The fintech is providing access to a spending card or debit card or atm card for customers in Nigeria only.
A virtual card is an online spending card that can be used to purchase goods and services from any online store that support the card issuer and denominated in the card currency.
For Moniepoint, the case is different. You can only request a debit card from your account. The so called “virtual card” is yet to available on the platform. The debit card serves every functions of a virtual card and beyond. So you don’t need a virtual card when a debit card which can also work for online transactions is available.
Advantages of Virtual Card over Debit Card
Yes, a debit card perform almost every functions of a virtual card but there are some area where a virtual card will be needed. A virtual card offers an extra layer of privacy compared to a regular debit card, making it particularly valuable for online transactions.
Unlike a bank’s physical/atm debit card, a virtual card generates unique, temporary card numbers, cvv code, expiry date, and card PIN that can be used for specific purchases or within a set time limit, reducing the risk of fraud if the card details are compromised.
In a nutshell, a virtual card protects the user’s main account details because it can easily be deactivated, block or replaced without affecting the actual bank account or funds in it. Virtual cards are especially useful for controlling spending and limiting exposure to fraud in environments such as Nigeria where government policies on card are strict.
How to get Moniepoint Debit Card
You can get a Moniepoint debit card to replace virtual card because it can also used online where naira is acceptable as primary payment method.
To get the debit card of Moniepoint, follow these instructions:
- Login to your account via the banking app or visit atm.moniepoint.com. The web url is applicable to business account holders only.
- Navigate to “Card” and click on “Request a Debit Card”.
- The Moniepoint ATM card costs ₦1,500 to request. This fee covers the card's issuance fee of ₦1,000 and the logistics fee of ₦500. Accept the terms and conditions to continue.
- Submit your address where you want the debit card to be delivered to. Moniepoint delivers cards nationwide and you can also obtain the card at any nearby super agents.
- On a norms, the debit card may take up to 48 hours before it gets delivered to your doorstep.
- You can track the debit card by logging into your account and check the “Card” page to know the status of the card logistics.
Activating the Moniepoint Debit Card
Once the debit card arrives at your doorstep, you can simply activate it by following the steps explained below:
- Login to your Moniepoint account and go-to “Card” section in the dashboard.
- Click on “Debit Card” and select the “Card” you requested.
- Click on “Delivered” and proceed to Activation
- You will be required to set PIN for the debit card. Enter the card number and confirm the OTP sent to your registered phone number or email.
- Once the card number is confirmed, input the card cvv and expiry date. Enter your desire PIN and confirm the PIN.
- Once the PIN is confirmed, you will receive a message stating that “congratulations, your card has been activated successfully”.
How to Use Moniepoint Debit Card
The Moniepoint Debit Card works literally anywhere. Precisely, it can be used on any ATMs in Nigeria. It also works on almost all POS terminal across the country and can be used for web purchases to make payment for anything online within Nigeria.
Note: Moniepoint Debit Card doesn’t work for AliExpress and Alibaba transactions. Nevertheless, you can use it to pay for Netflix subscriptions, YouTube Premium subscription, Apple Music, Spotify and many more.
Conclusion
Moniepoint doesn’t provide virtual cards to customers. Instead, it’s offering debit cards which also works for online transactions in Nigeria. How to request the Moniepoint debit card and how to activate it has been explained in this article.
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