Virtual Dollar Card
Virtual Dollar Card for International Payments
Paying for your favorite international services shouldn't be a struggle. CherryPay gives you access to a virtual dollar card designed to make online payments simple, convenient and accessible. Whether you’re paying for productivity tools, software subscriptions, online advertising, or other supported international services, CherryPay gives you a convenient way to make USD-denominated online payments.
You can also use the card to pay for your online ads on several social media, shop on supported international websites, and handle many dollar-denominated subscriptions as well as online payments. This guide will contain every detail you need to know about our virtual cards, including fees and how to create one.
What Is a Virtual Dollar Card?
A virtual dollar card is a digital payment card denominated in US dollars. It works similarly to a physical payment card but exists entirely online. The card comes with the details required to make payments online, including card number, expiry date, and CVV.
The major difference is that you don’t have to carry a physical around. Unlike a physical card, a virtual card exists digitally, so there’s nothing to carry around or potentially lose. With CherryPay, your virtual card can be created, funded, and managed directly from the app.
Technically, since what we offer is a prepaid card, you’ll need to fund it before spending. Having said that, virtual cards in Nigeria can be particularly useful when paying merchants that charge in USD or making international payments where your regular local card may not be suitable.
What Can You Use a CherryPay Virtual Card For?
Your CherryPay virtual dollar card is designed for supported international online payments. Like we said earlier, this can include payments for software, professional tools, online shopping, entertainment, and other international services. For instance, you may use our virtual USD card to pay for services like cloud software, productivity platforms, streaming services, or other online subscriptions.
What Does it Cost to Create A CherryPay Virtual Card?
One thing we try to do is keep the cost of creating our virtual cards relatively low. We are not going to make you scream just to create a card. Currently, our card creation costs just $2, which is one of the lowest in the industry. However, as part of our promotional campaign as we step into the market, new users won’t be charged a dime to create one.
What Currencies Can I Use to Fund my CherryPay Virtual Card?
We try as much as possible to ensure you have the best experience when it comes to virtual card funding. At the moment, you can fund our virtual card from your Naira balance on CherryPay. You can also fund the card by depositing USDT or USDC through your dedicated wallet address in the app. Interestingly, whatever your choice of funding is, you are sure to enjoy a seamless transaction.
CherryPay Fees You Should Be Aware Of
We are very plain, especially when it comes to our fee structure. First of all, we don't charge a monthly maintenance fee on our issued virtual cards. However, certain actions, such as funding or creating an additional card, may attract a fee. Here's what you should know:
First card creation: Free during the promotional period
Additional card creation: $2 per card
Card funding: 0.75% of the funding amount
Monthly maintenance: $0
CherryPay Virtual Card Compliance
First things first, we’d like to state that CherryPay is not a bank. We are a fintech app that provides access to financial services through our infrastructure and regulated service partners. As part of our commitment to maintaining a secure and compliant platform, every user will be required to complete identity verification before they can create a CherryPay virtual card.
This means you won’t be able to simply sign up and immediately generate a card without completing the required KYC process. During verification, you may be asked to provide certain personal and identity information to confirm that you are who you say you are.
Once your identity has been successfully verified and your account meets the applicable eligibility requirements, you can proceed to create and use your CherryPay virtual card.
How to Create Your CherryPay Virtual Card
There’s actually no big deal in creating our virtual cards. First of all, whether you use an iOS or Android device, head to your device’s app store, search for “CherryPay” and start the installation. You can also hit any of the install buttons on this page to download the app for your device. Once the app has been installed, you can then proceed with the following steps:
Launch the app and tap on the Sign Up button
Next, provide all the required personal details
Verify your email address
Complete your account profile
Verify your identity
Add funds to your account via Naira or Crypto
If you’re funding with Naira, you’ll be required to complete your BVN verification
Head to the card section of the app
Hit the create button and follow the onscreen information
Choose your funding account (Naira or Crypto)
Enter your funding amount
Review and complete the process
FAQs About CherryPay Virtual Cards
Is the CherryPay virtual dollar card free?
Yes. During the promotional period, eligible new users can create their first CherryPay virtual card for free.
How much does another CherryPay virtual card cost?
Additionally virtual cards currently cost $2 to create.
Can I fund my CherryPay virtual card with Naira?
Yes, you can fund your virtual dollar card using your Naira balance on CherryPay.
Do I need to verify my identity before creating a card?
Yes. You must successfully complete the required identity verification before you can create a CherryPay virtual card.
Does the CherryPay virtual card have a monthly maintenance fee?
No. CherryPay currently does not charge a monthly maintenance fee for its virtual cards.
Virtual Dollar Card
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