V bank is a digital bank launched on March 8, 2020. In 10 months, we have onboarded over 250,000 individuals and businesses on our app where it takes less than 2 minutes to set up an active bank account.
App users are verified via BVN and have full-fledged banks set up on their phones where they can pay bills, buy airtime and data, Fix Deposits, Set Targets and make free transfers, easily and securely.
On Thursday, 28 January 2021, we unveiled Version 3.0 of the banking app with new features including:
- Debit card management – customers can request, activate, enable/disable and change pins for physical or virtual V cards. They can also save their card details from other banks.
- QR Code – customers can send and receive funds using a unique QR code generated in-app.
- Proximity Payments – easy money transfer to people nearby as long as they have either the proximity payment feature in-app or their NFC turned on. No need to ask people for their account numbers.
- Advance Budgeting – customers can add limits to and track their daily, weekly and monthly spending.
- Recurring Transactions – for transactions or bills that happen at consistent intervals. Rather than constantly initiating those payments, customers can set them up as recurring payments.
- Group Savings.
- Intuitive airtime vending.