Absa reshapes payments with virtual cards
Lucy Kgweetsi | Wednesday November 12, 2025 11:28
The cards are being hailed as the next step in fintech innovation and ease of access for banking customers.
Speaking at the launch on Tuesday, Godiraone Maokenyane, the bank’s Head of Strategy and Business Transformation explained the technology.
“Virtual cards are simply digital versions of your debit or credit card,” he said. “You can make payments at any contactless point of sale using your phone or a smartwatch. “Once set up, payments can be made effortlessly with just a check on your list.”
Maokenyane said the cards added another layer of security and control for customers, in their online transactions.
“Many customers are scared to use their cards online because of potential fraud. “Now, you can create a virtual card for P10,000, for example, and use it with the exposure limited. “If one thousand pula of that is misused, that’s the maximum loss, not the P100,000 in your main card,” he said.
Maokenyane said the introduction of the virtual cards illustrates how banking is evolving in a cashless world.
“We’re not just introducing new ways to pay,” he said. “We are reimagining how money moves securely for our customers in a fast-changing digital world.”
Absa officials also highlighted that the virtual cards were useful for parents seeking to monitor their children’s online purchases.
“A lot of our kids play games like Roblox and before you know it, your child has spent P2,000. “So, virtual cards can be preloaded with small amounts,” said Mmoloki Modise, e-Commerce Product Specialist at the bank.
He further explained that for the online games that children enjoy, a customer could create a virtual card of any amount and enter it into the game.
“When it gets used up, that’s it. The child comes back to you, asks for permission, and then you load it again,” he said.
Absa also introduced a Multi-Currency Prepaid Virtual Card, allowing users to hold up to five currencies and lock in exchange rates when loading funds.
“If you buy rand today, that rate applies. Even if the market rate changes later, the amount you loaded stays the same,” Modise said.
Absa Bank Botswana acting retail director, John D’Souza said whilst the bank has built up formidable security around its platforms, ultimately customers had to exercise vigilance.
“Everything sits within your banking app. “For every action, you need to authenticate with biometrics or a login. It’s designed so you remain in control, but responsibility shifts to the individual to safeguard their devices and credentials,” he noted.