At Stuff we’re used to all sorts of virtual things. Virtual machines, heck even virtual reality isn’t out of the realm of possibility. Virtual credit cards, though. That’s an idea we wish we’d thought up.
Virtual credit cards are a thing, with South Africa-made app VCpay making such a thing possible for local shoppers and other general folk. Even if they don’t have a credit card, which is basically the point of the VCpay offering. Users can create virtual cards, load funds into them using traditional payment methods like EFT, a real credit card and more. Sadly, your newly-created cards won’t be worth anything unless you top them up with cash.
The upshot is that you’ll be able to use a virtual MasterCard (VCpay doesn’t do Visa) to pay for an online purchase or an Uber ride, without having to actually get a card from the bank. Or without handing over the details of your actual credit card, if you’re concerned about security at a specific outlet. And these virtual cards can be sent to other people, in case you need to disperse some funds to those in need.
VCpay has just won the Best Fintech Innovation award at the Appsafrica Innovation 2015 event. MD of Zazoo, VCpay’s parent company, Philip Belamant said “Not only are we on the cutting edge of the disruptive payment technology space, but more importantly, we ensure that our innovative solutions are relevant to our target market, and address day-to-day pain points in consumers’ lives. VCpay empowers both banked and unbanked users to pay securely and interoperably for goods online, in store, in other mobile applications, or on mobile services like Uber.”