Can you create more than one Ecobank virtual VISA prepaid card with your Ecobank account? What are the limits and charges on the cards? Read on to find out more.
Virtual cards are online VISA prepaid cards that you can use to perform online payments. You can create them instantly and do not get a physical card. When you load the virtual prepaid card with money, the bank removes it from the account to the card. Oh, and you can send the money back to your account once you cancel the card. It also uses the same local currency as your account or country, unless you change that if it allows.
On the Ecobank mobile app, the feature comes in two types: a shopping card and a gift card. The shopping card comes at a cost of GHC10 while the gift card comes at a cost of GHC20. The shopping card is valid for 12 months, while the gift card is valid for 3 months. Ecobank charges you 2% of the amount for transactions online.
The maximum number of Ecobank virtual VISA shopping and gift cards you can have at a time is two and five, respectively. The maximum amount you can have on a shopping and gift card is GHS5,000 and GHS1,200, respectively. However, your daily loading limit for the shopping card is GHS5,000.
How to create an Ecobank virtual VISA card
In the Ecobabk mobile app, select “CARDS”
Select “Virtual Cards”
Select “Create a Virtual Card”
Enter ‘Amount’ to be loaded onto the card
Select Scheme type (MasterCard/VISA) and type of card
Enter mobile number
Proceed to enter PIN, Touch or Face ID to create the Virtual Card
Ecobank Group is announcing the launch of the 2022 Ecobank Fintech Challenge which offers early-stage and mature startups the potential to partner with Ecobank across 33 African countries. Applications for the fifth edition are open from now until September 16th. The finals and awards ceremony will take place in October 2022.
The challenge welcomes Fintechs that align with the Bank’s strategic objectives. The top winner stands a chance to win a cash prize of US$50,000 and the opportunity to partner and scale their solutions across Ecobank’s 33 African markets. The top ten finalists will also get to join the Ecobank Fintech Fellowship.
Fintech companies and developers originating from any of Africa’s 54 countries, as well as global Africa-centered Fintechs, are eligible to enter the 2022 Ecobank Fintech Challenge.
In addition, all Fellows will qualify to explore the following opportunities with the Bank and its partners:
Multinational products roll out: an opportunity to pursue integration with Ecobank and potentially launch products in all or part of Ecobank’s pan-African 33-country ecosystem.
Service provider partnerships: Ecobank may select some Fintechs as pan-African service partners within the Bank’s ecosystem.
Access to Ecobank’s Pan-African Banking Sandbox. Fellows will get access to Ecobank’s APIs to test and improve their products for the pan-African market.
Priority Access to Ecobank’s Venture Capital partners for funding exploration.
Dr. Tomisin Fashina, Operations and Technology Executive, Ecobank Group said, “The uniqueness of the Challenge is that it welcomes both early stage and mature start-up Fintechs alike and seeks to align them with different kinds of partnership opportunities within Ecobank that match their differing levels of maturity.”
The Ecobank Fintech Fellowship program currently has 46 fellows including 2020 winner Nokwary.
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