Monday, 27 May 2024

Best Credit Card – Alliance Bank Virtual Credit Card

5 min read

By The Asian Banker

In an age where scams are rampant, the winning bank virtual credit card’s cutting-edge security features becomes a game-changer for customers. Launched in April 2023, the VCC stands out as the first-of-its-kind in Asia, allowing customers to generate a unique 16-digit number for one-time or subscription payments within the app. It's also ESG compliant and offers a hassle-free eKYC digital onboarding process accessible from anywhere, anytime. It also enables approval within one business day. Simplified transactions on partner apps also eliminate the need for manual entry of credit card data. 

From December 2022 to June 2023, the bank’s credit card base rose from 121,096 to 157,628 thanks to a substantial increase in virtual credit card acquisitions from 47 in March 2023 to 36,255 by June 2023. 

Furthermore, the total outstanding balance  rose from $20.4 million in December 2022 to a substantial $ 695 million by June 2023. 

For providing a virtual card with faster application and processing time,  the Best Credit Card award goes to Alliance Bank Virtual Credit Card


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