Standard Bank on Tuesday launched a new virtual credit card with “advanced security features” that it said it has so much confidence in that it has made a 100% credit fraud protection promise to customers who use it.
The bank said the virtual credit card includes a feature that lets clients use their banking app to see and control which retailers have saved their card details.
Giving users more control over how and where their card is used will help them detect suspicious activity early, Standard Bank said.
Additionally, the card has a dynamic CVV (the security code) that changes frequently and works for just one transaction, making it more difficult for customers to be targeted by fraudsters.
Standard Bank has also changed how its virtual cards work. Previously, customers had to top up their virtual cards to use them. According to the bank, this extra step acted as a barrier to adoption, leading to customers opting for their physical cards instead.
The new virtual cards are linked to a user’s bank account, meaning they can be used without topping up first – something already offered by other banks. Virtual cards can be created and linked to accounts in the Standard Bank mobile app.
Read: Standard Bank raises alarm over AI-driven fraud
“Our virtual credit card puts you in control. You can easily view and manage which retailers have access to your card details, while a CVV that changes regularly adds an extra layer of protection against fraud,” said Tumelo Ramugondo, head of credit at Standard Bank. – © 2025 NewsCentral Media
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