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NEWS - 4. May 2020 17:15

SEB: Business clients prefer the security of the Virtual Card when shopping online

In recent months, many SEB business clients have started to use the Virtual Card more actively – it is a solution that does not require owning a physical plastic card. The Virtual Card is valid for a period of 40 days, during which time the client can make any required e-purchases. After the term of validity has passed, the card is no longer valid, thereby minimising the chance of card fraud. The client is, of course, able to order a new Virtual Card after the old one has expired. Several business clients who shop or purchase operatively via e-channels have opted for the convenient and secure solution.

SEB’s data shows that Estonian e-commerce is experiencing a clear growth trend and compared to 2017, for example, the current volume of online purchases made with bank cards has increased by more than 50 per cent. ‘Luckily, people’s awareness of safe purchases and payment methods has grown hand-in-hand with the development of e-commerce. During the emergency situation, the Virtual Card, which helps to ensure the safety of e-purchases with its validity limitation, has become more popular than ever among clients’, commented Ainar Leppänen, SEB’s Head of Retail Banking. In a year-on-year comparison, for example, almost twice as many Virtual Cards were issued to SEB’s business clients in March than in the same period in the previous year.

SEB’s statistics show that business clients primarily use the Virtual Card for the purpose of intercompany settlements and, for example, paying for social media advertising. SEB’s Virtual Card can be formalised in the Internet Bank, and the Virtual Card is ready for immediate use. More information:

Additional info:

Evelin Allas
Communications Manager
Marketing and Communications Division
SEB Pank

Phone: +372 6655 649
Mobile: +371 5111 718
Address: Tornimäe 2, 15010 Tallinn

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