If you were one to think that the future of banking and commerce was to be a purely digital one, it’s time you thought otherwise. The future is one where both seas meet; it is the union of digital and physical banking. Where physical banks are meeting the digital horizon, the same is true for the other side of the line, with the launch of deduction cards like those for Sadapay, NayaPay, and now Easy Paisa, while they stay true to their digital natures with the introduction of virtual debit cards.

Features and Convenience of Use

EasyPaisa’s Visa Debit card, for one, allows the holder to make payments at over 90,000 card-accepting POS (point-of-sale) merchants detached around the country, while the money can be withdrawn from around 16,000 ATMs nationwide. The contactless version of the card uses NFC technology, which provides the cardholder with the ability to make payments by conveniently tapping the card on the merchant POS. Thus, QR codes and online cards are two features staying true to the digital side of the entity.

Contributing to the FinTech Landscape in Pakistan

The Virtual Debit Card is also a stepping stone to the strengthening of Fintech and, more specifically, the digital payments landscape in Pakistan. A milestone that will eventually be achieved with the expanding communal trust achieved by the product’s provision of security, whereby the technology in its chips deters and obstructs any copying and/or counterfeiting attempts. Doing so will hopefully boost consumer confidence and control in the practice of making digital payments, which was primarily impeded by the client’s reservations with reference to online identity theft and fraud.