Citi Hong Kong is rolling out a virtual credit card with a dynamic card validation code (CVC), developed with Mastercard.
The feature creates a one-time verification code for each new online transaction.
If a code goes unused within its validity period, it refreshes automatically.
Customers access it through the Citi Mobile App.
There, the virtual card number sits alongside the physical card rather than replacing it.
The dynamic CVC runs on Mastercard’s tokenisation infrastructure.
This replaces sensitive card details with unique digital codes, so even if a token is intercepted, it cannot be reused.
Citi is positioning the virtual card as a companion to the physical card, not a replacement.
Customers can keep using their physical card for in-person spending.
For online subscriptions, e-commerce purchases and mobile wallet payments, they can use the virtual card instead.
This limits how often physical card details reach merchants.
“The upcoming launch of Hong Kong’s first Virtual Credit Card with Dynamic CVC reflects how we are leveraging digital innovation to make online payments safer, easier and more reassuring,”
said Sarah O, Head of Digital Growth & Cards and Unsecured Lending Sales, Citi Hong Kong.
“The Virtual Credit Card with Dynamic CVC leverages Mastercard’s tokenization capabilities to safeguard cardholders’ credentials, demonstrating how our security innovations are setting a new benchmark for consumer protection in digital commerce. This launch also reflects Mastercard’s promise to deliver safe and secure payment experiences to every cardholder,”
said Helena Chen, Senior Vice President, General Manager, Hong Kong and Macau at Mastercard.
The Virtual Credit Card with Dynamic CVC will roll out to eligible Citi Mastercard credit card customers in Hong Kong in the coming months via the Citi Mobile App.
Featured image: Edited by Fintech News Hong Kong, based on image by Citi Hong Kong via its Press Release.