Payday Virtual Card: How to Create and Use, Exchange Rate, Limits and More
- on May 25, 2023
Making online or web payment in Nigeria has been a significant issue for some times now. Online payments such as Netflix subscriptions, Dstv subscription, Spotify subscriptions, buying items on Asus, Amazon, Shein, Jumia, and Alibaba, or making payment on online foreign websites, e.t.c., can only be offered by reliable payment service in Nigeria – such as Payday, a Neobank that give Nigerians and Africans access to virtual cards denominated in USD, EUR, and GBP.
With Payday virtual cards, you could carryout any online payment transaction anywhere Visa or MasterCard is accepted. More so, users are allowed to transact and make payments in over 20 currencies, with access to create virtual dollar and naira cards for online purchases.
In this article, we’re going to walk you through Payday virtual cards, how it works and how to create and fund your dollar card. But before, let me quickly walk you through Payday as a remittance service in Africa.
Payday, Techcabal call it Neobank in Nigeria, Prestmit call it a fast remittance app in Africa, while Dignited call it multiple currencies app. But, according to my research, I could confirmed that all these qualification was correct.
Payday is a cross-border remittance payment service for Africans. The Neobank is one of the most trusted digital payment services in Nigeria, and Africa at large. The Payday app enables swift borderless online payments across countries of Africa. Furthermore, users have access to create virtual dollar and naira cards for online payments.
The Payday app was built to bridge the gap between the present and the future turns of financial services in helping African to carryout payment services easily. More so, Payday Africa is one of the fastest and most reliable ways of sending payment in Africa at zero-charge rate.
Launched in 2021, and since its inception, Payday has grown to be a service for thousands of users who make use of its payment service to send and receive money, transact and make payments in over 20 currencies, shop online using the Payday virtual card, pay bills, etc.
As previously said, I’m going to walk you through everything you need to know about the Payday app virtual debit cards, how to fund/credit the card, and how to use it to make payment online. Hence, let’s dive to the primary reason of this article.
Payday Virtual Cards
In a bid to further offer support and enhance payment services to its users, Payday has included more amazing features such as virtual debit cards in its v3.0 app version. The payday virtual cards are released in both the MasterCard and Visa card option with zero charges on card creation and monthly maintenance fee.
Furthermore, Payday virtual card is a non-physical dollar-denominated card that can be used to pay for international services like Jumia Products and Goods, Walmart, Starlink, Amazon, Apple Music, Netflix, eBay, Namecheap, G-Suite, and many more without limits.
The Payday virtual dollar card is a secure service for online payment, with user-friendly interface that gives user control to all the card features and management. Moreso, the payday virtual card rate is good when compared to other services like Chipper cash virtual dollar cards.
However, to enjoy all the benefits of Payday virtual cards, you need to Create Payday Account and request the virtual USD card from your dashboard which usually takes than a minute. For potential users, you’ll need to download the Payday app on your favorite app store, sign up an account and activate a personal virtual dollar card.
How to Create Payday Virtual Card
To create and fund Payday virtual cards is a simple task. However, do note that Payday offers virtual cards in MasterCard, Visa and Verse. These three virtual cards can be used to carryout online payment – MasterCard and Visa for international transactions, while the verse can be used within Nigeria.
Follow the below instructions to create Payday virtual card online:
- Create Payday Account: If you’re a potential user, get started by downloading the Payday app on the Google play store or Apple app store. The application is available for iOS and android devices.
- Complete your KYC: Once you’re done with the account registration, proceed to complete your know-your-customer (KYC) verification. After you’ve successfully completed your KYC, then you can go ahead and get a Payday dollar virtual card.
- Choose your preferred Card option: Next, tap on “Cards” icon on your app dashboard and choose your preferred card option (MasterCard, VISA or Verve Card) and tap Create Card.
- Fund your Virtual Card: You’ll be prompt to create/fund your Payday virtual card with a minimum amount of $1 after which your card will be created instantly.
Furthermore, the minimum running balance on these virtual cards is $1, while it MasterCard and VISA virtual cards will requires $5 for card creation fee, and Verve card is completely free.
How does Payday Virtual Cards Works?
Many financial institutions in Nigeria has shutdown the use of ATM cards for international transactions due to CBN regulations. Notwithstanding, some Fintech companies including Payday have come up with ideas of providing virtual dollar cards for international payments.
This is where Payday virtual card comes in. The virtual dollar card actually works by offering online payment solutions to Payday users and potential customers willing to join the customer base of the Fintech company.
Therefore, you can use your Payday virtual dollar card to send and receive money in foreign currency, make online purchases, and transact on international platforms like Namecheap, Facebook, Spotify, Apple Music, EBay, Starlinks Amazon, Ali Express, and Netflix.
Benefits of Using Payday Virtual Card
The Payday Virtual card comes with many benefits and usefulness. Some of the advantages of creating a virtual dollar card are explained below.
- Users have the ability to create free virtual verve card for local online payments
- The payday virtual cards are limitless when it comes to making online payments
- Funding virtual cards can be done through Payday e-wallet
- Payday virtual cards are denominated in EUR, GBP and USD
- It can be used to make payment in more than 20 currencies
- It’s also denominated in Naira to carryout online payment within Nigeria.
- The payday virtual cards are available in MasterCard, Verve and VISA Card options
- Zero monthly maintenance fee.
Payday Virtual Card Limit and Rate
It’s important to pay attention to virtual card limits and rate even though we’ve mentioned some exciting benefits of the Payday cards so far. Therefore, here are limits that may affects your Payday virtual dollar card.
- Card must have a minimum running balance of $1
- Creation of Payday verve virtual card is completely free
- $0 monthly maintenance fees is required for any card types
- MasterCard and Visa Cards requires $5 creation fees
- Withdrawal from Payday virtual card is limited to 5 times a day.
- The spending limit per card is $4,000 and $120,000 per month. However, you can hold more than your spending limit in your card.
How to Withdraw from Payday Virtual Card
To withdraw funds from your Payday Virtual Card, follow the below step-by-steps instructions;
- Login to your Payday Account via app using your unique username and password.
- Tap on Card icon at the bottom of your dashboard
- Tap on the virtual card you want to withdraw from and tap on the balance
- Tap on Withdraw and input Amount you wish to Cashout
- Tap Withdraw and the funds will be transferred back to your Payday wallet.
These is just the simple methods to withdraw from Payday virtual cards.
What is Payday Virtual Card Rate?
Although virtual dollar cards rate varies base on many factors. That’s why we can’t update Payday virtual card rate on this page. But, if you must know the card rate of Payday, kindly visit their offical website or loginto your account to find, tap on card to find out the current card price rate.
Is Payday App Legit?
Yes, Payday app is one of the legit and scam-free remittance platform out of Nigeria. The Neobank offers cross-border payment services to Nigerians and Africans at large.
Is Payday Virtual Card Free?
The MasterCard and VISA Card types on Payday App requires $5 creation fees, while the Verve type is completely free. Furthermore, Payday charge $0 for monthly maintenancce fee.
How to get instant virtual card on Payday App?
If you’re a potential user, you can instantly get a Payday virtual card by downloading the Paydap app, create an account and complete your KYC. Then request for free virtual card.
Conclusion; Payday Virtual Card
The Payday Virtual Dollar Cards are great option for making both local and international payments from the comfort of your home. Using Payday virtual cards, you’ll be able to send and receive money in foreign currencies, pay for goods and services online, and pay for services like Netflix, Showmax, Ali Express, Amazon e.t.c.
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