Seen Here: Digital payments are gaining momentum — and FNB customers are leading the shift. FNB reports a 47% increase in virtual card transaction values over the past financial year, as more customers embrace convenient, secure and rewarding ways to pay. With dynamic CVV protection, real-time card controls, digital wallet integration and eBucks rewards, banking is becoming smarter, simpler and more connected to everyday life. Photo Credit: Supplied
JOHANNESBURG, 13 OCTOBER 2026 — FNB is recording a significant shift in customer payment behaviour, with transaction values on its virtual cards increasing by 47% over the past financial year, reflecting growing demand for secure, convenient and digitally enabled banking solutions.
The growth comes as the bank’s wider digital ecosystem continues to expand, serving more than 19 million regular platform users and over 12 million banking customers.
According to FNB, the rise in virtual card usage reflects a broader move towards digital-first transactions, with customers increasingly using digital payment tools for online shopping, in-store purchases, travel bookings and recurring subscriptions.
The bank also reported a 7% year-on-year increase in digital transactions, while transaction volumes on the FNB Banking App grew by 10%, reinforcing the role of digital platforms in everyday financial activity.
Virtual cards become part of everyday banking
FNB says virtual cards are increasingly moving beyond occasional online purchases to become a regular payment option for customers.
Unlike traditional physical cards, virtual cards are accessed directly through the FNB Banking App and feature a dynamic card verification value (CVV) that changes regularly. This additional security measure is designed to reduce the risks associated with compromised card details during online transactions.
Customers can also freeze or unfreeze their cards, manage spending controls and monitor transactions through the app, giving them greater oversight of their payments.
Philani Potwana, Managing Executive of FNB Private Everyday Banking, said the increase in virtual card spending reflected changing customer expectations.
“The growth in virtual card usage highlights how rapidly customer payment behaviour is evolving. Today’s customers expect payment experiences that are simple, secure and available wherever they choose to transact, whether online, in-store or through their preferred digital wallets.”
Potwana said virtual cards had become an increasingly important component of digital payments by combining convenience with greater security and customer control.
“The 47% increase in transaction values reflects growing customer confidence in digital payment solutions and reinforces our commitment to delivering innovative payment experiences that make banking easier and more rewarding for customers,” he said.
Security at the centre of digital adoption
As consumers conduct more financial activity online, payment security remains a key consideration for banks and customers.
FNB’s virtual cards are designed to help mitigate certain risks associated with online card transactions through their dynamic CVVs and secure access within the banking app.
The ability to manage card settings and monitor spending further allows customers to respond quickly when they identify a transaction or payment concern.
Potwana said these features were intended to give customers greater confidence when transacting digitally.
“Security is one of the biggest considerations for customers when making digital payments,” he said, adding that the combination of enhanced protection and user controls helps place more control directly in customers’ hands.
The virtual cards can also be added to supported digital wallets, enabling contactless payments through compatible smartphones, smartwatches and other devices.
This integration allows customers to use digital payment tools across a wider range of everyday settings, rather than limiting their use to online shopping.
Digital payments reshape spending habits
For FNB, the latest figures point to a broader behavioural change as customers increasingly incorporate digital payments into their daily routines.
Jason Viljoen, Head of Digital Payments at FNB, said the bank was seeing digital payment solutions become more firmly embedded in customers’ everyday transactions.
“We are seeing digital payment solutions move from being an alternative payment method to becoming embedded in customers’ everyday transaction habits.”
Viljoen said the growth in virtual card spending, alongside increased engagement across the FNB Banking App and other digital channels, showed that customers valued solutions offering convenience, speed and security.
He also highlighted the importance of features designed to address common fraud risks associated with card-not-present transactions, where a physical card is not presented to the merchant.
As customers become more digitally active, Viljoen said, security features such as dynamic CVVs are playing an increasingly important role in building confidence and supporting adoption.
eBucks rewards encourage digital spending
Beyond security and convenience, FNB is also using its eBucks rewards programme to encourage customers to adopt virtual cards more consistently.
The bank has aligned virtual card transactions with eBucks rewards, reward-level progression and selected partner-specific earning opportunities.
According to FNB, this approach has supported increased virtual card usage across everyday spending categories, including groceries, fuel, health and lifestyle.
The strategy connects customers’ routine spending decisions with rewards, encouraging them to use digital payment methods while engaging more actively with the broader eBucks ecosystem.
It also demonstrates how loyalty programmes can complement technology-led payment strategies by providing an additional incentive for customers to change their habits.
For the bank, the opportunity lies in combining secure payment functionality with tangible customer benefits, making digital transactions attractive for reasons beyond convenience alone.
Building for a digital-first economy
The growth in virtual card transaction values reflects the increasing importance of digital payment infrastructure within South Africa’s financial services sector.
As customers adopt more connected ways of shopping, travelling and managing their money, banks face growing expectations to provide payment solutions that are accessible, secure and easy to manage.
FNB’s strategy brings together virtual cards, digital wallets, in-app controls and eBucks rewards as components of a broader digital banking experience.
Potwana said the bank would continue enhancing its digital capabilities to help customers transact with confidence as the payments landscape evolves.
The extent to which virtual cards continue to gain traction will depend on customer adoption, the quality of the payment experience and the ability of financial institutions to maintain trust in their security measures.
For now, the latest figures suggest that virtual cards are becoming an increasingly significant part of FNB customers’ spending habits.
With virtual card transaction values up 47%, digital engagement rising and rewards helping to drive adoption, FNB is positioning secure digital payments at the heart of its next phase of customer banking.
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