C24 Bank introduces virtual Mastercard 

Monday 19 September 2022 10:48 CET | News

Germany-based Open Banking platform C24 Bank, and a subsidiary of the comparison portal CHECK24 Group, has announced offering its customers up to 8 virtual cards in addition to the physical Mastercard.

These become operational online immediately after ordering in the app and can also be used in shops via Apple Pay or Google Pay. Customers can choose from eight different colour designs and can flexibly link the cards to their own checking account, a joint account, or a pocket.

For example, customers can link a virtual Mastercard to a joint account for joint household expenses. When users pay with this card, the amount is debited directly from the joint account and not from their own current account. According to a C24 Bank representative, the virtual Mastercards allow their customers to manage their finances more easily and users can now easily make payments from a joint account or from their holiday fund with a virtual Mastercard in the colour of their choice.

Pocket feature

C24 allows users to organise their accounts with Pockets, which are sub-accounts that allow customers to save for their individual goals. Pockets can be personalised by selecting an individual name and transferring the starting credit. With sub-accounts, users can put money aside and keep it separate from their daily expenses. Individual savings goals can be set in order to keep track of target achievements. C24 also allows the creation of a pocket with its own IBAN, called PocketPLUS. Users can easily transfer money directly from your PocketPLUS to external accounts, receive money and have direct debits collected.

Virtual card cost

A virtual Mastercard is included in the free Smart account. 4 virtual cards can be used free of charge in the Plus account and 8 in the Max account. Any additional virtual cards have a one-time cost of EUR 1.99. The virtual credit cards, like the physical card, can be flexibly blocked via the C24 app and limits can be configured individually. With Mastercard Identity Check, the highest security standards apply to online payments. Customers can be informed about every transaction via push notifications.

Cashback feature

Users can also get up to 10% cashback on their card transactions, seeing as C24 checking accounts automatically collects points with every card transaction. Points can be used to shop, donate to a charitable organisation, or be traded in for cash.

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Keywords: expansion, product upgrade, online payments, credit card, debit card, MasterCard
Categories: Payments & Commerce
Companies: C24 Bank
Countries: Germany
This article is part of category

Payments & Commerce

C24 Bank

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