UAE-based fintech YAP rolls out region’s 1st virtual card to make digital banking easier

By Shilpa Annie Joseph, Desk Reporter
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UAE-based leading fintech YAP has launched the region’s first virtual card, which enables customers to shop online easily and securely.

Each card has a unique card number, expiration date, and card verification value (CVV). Users can set spending limits by loading the amount of money they intend to spend on a certain transaction onto their cards.

Further, users can simply stop adding money when they no longer want to subscribe to a service. YAP customers can establish multiple virtual cards for different shopping categories or websites to maintain optimum protection. The cards can be customized in different designs and colors.

According to the company, virtual cards are part of a series of features YAP is rolling out over the next few months, all of which are intended for making digital banking easier for customers.

“We created virtual cards to give control back to the cardholder and to make shopping online safe. A significant portion of online shoppers in the region have had bad experiences at some point shopping online, and virtual cards solve that problem. Of all the features we are releasing, we have seen the most excitement and anticipation about our virtual cards, especially among our early users,” said Ms. Nada Hassan, Head of Product Experience & Innovation at YAP.

Last week. the Emirates Development Bank (EDB) launched the ‘EDB Business Banking app‘ in collaboration with YAP to serve small and medium-sized enterprises (SME) operating in the Emirates.

YAP

Established in 2020, YAP is the leading fintech revolutionizing the digital banking experience in the Middle East, Africa, and South Asia. The app offers a suite of versatile features such as analytics and budget tools, card controls, easy money transfers, real-time notifications of purchase, virtual cards, and so on.

Related: Sharjah Islamic Bank brings out new digital banking services for corporates


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