Payora Virtual Dollar Card – Fees & Policies

Virtual dollar cards have become an essential tool for online payments, subscriptions, international purchases, and more. At Payora, we provide a seamless, secure, and reliable virtual card experience designed for everyday use across global platforms.

Like all financial products, virtual cards come with certain fees and usage policies. These fees are not arbitrary; they are influenced by our card-issuing partners, payment processors, and global card networks such as Visa and Mastercard.

This guide provides a complete breakdown of all applicable fees, card management policies, and important rules governing the use of Payora Virtual Dollar Cards.

Card Creation Fee

Creating a Payora Virtual Dollar Card costs $3.5.

This fee includes:

• Card issuance and setup costs  
• Provider onboarding charges  
• $1 usable balance automatically added to your card  

This means you can start using your card immediately after creation without needing to fund it first.

Funding & Conversion Fee

When funding your virtual card using Naira, a 1.5% conversion fee is applied.

To ensure fairness and affordability, this fee is:

• Capped at ₦2,500 per transaction  

This fee helps cover:

• Currency conversion (NGN → USD)  
• Provider processing costs  
• Payment network charges  

The cap ensures users making larger transactions are protected from excessive fees.

Withdrawal Fee

Although Payora Virtual Dollar Cards are primarily designed for online payments, users may choose to withdraw funds from their card.

Withdrawal Fee: $1 per transaction

This fee covers:

• Provider withdrawal processing costs  
• Card network handling fees  

Tip: If you no longer need your card, terminating the card may be a more convenient option than making a withdrawal.

Card Termination Policy

Users may choose to terminate their virtual card at any time.

Termination Fees

Cards less than 6 months old

• $1 termination fee  

Cards older than 6 months

• 5% of the remaining balance  
• Maximum charge capped at $0.7  

Important Termination Rules

• A $1 termination charge is deducted during card closure where applicable.  
• If the card balance is less than $1, no refund will be issued.  
• Refunds are only processed when the remaining balance exceeds the applicable termination fee.  
• Once a card is terminated, it cannot be reactivated.  

These policies help cover provider settlement and card closure costs.

Cross-Border & Foreign Exchange (FX) Charges

When using your card on platforms outside the United States or for transactions in currencies other than USD, additional charges may apply.

These may include:

• Cross-border transaction fees  
• Foreign exchange (FX) conversion fees  

Please note that these charges are determined by the card networks and payment processors, not directly by Payora.

Declined Transactions & Insufficient Funds Policy

Transactions that fail due to insufficient funds still generate processing requests through our card partners and networks.

Because each authorization attempt carries a backend cost, Payora has implemented protective measures to reduce unnecessary charges and improve card security.

Automatic Card Freeze

If a transaction fails due to insufficient funds:

• The card is automatically frozen after the first failed attempt.  
• The user receives an email notification informing them that the card has been frozen.  

Additional Attempts While Frozen

A frozen card may still receive authorization attempts from merchants with active subscriptions or recurring billing arrangements.

If the card records three (3) additional failed authorization attempts after being frozen:

• The card will be permanently terminated.  
• The user will receive email notifications after each failed attempt.  
• A final email notification will be sent once the card has been terminated.  

Why This Policy Exists

This policy helps to:

• Prevent excessive processor charges  
• Protect users from recurring failed billing attempts  
• Reduce unnecessary network authorization fees  
• Maintain the overall sustainability of the virtual card service  

Email Notifications

To keep users informed and aware of card activity, Payora sends automated email notifications for important card events.

Users will receive email notifications when:

• A transaction fails due to insufficient funds  
• A card becomes frozen  
• Additional failed attempts occur on a frozen card  
• A card is permanently terminated  
• Other important card-related actions require user attention  

We strongly recommend keeping your email address up to date to ensure you receive these important alerts.

Best Practices for Virtual Card Usage

To avoid disruptions and unnecessary charges:

• Always maintain sufficient funds on your card  
• Remove unused subscriptions and recurring billing services  
• Monitor active subscriptions regularly  
• Check your email notifications for card-related updates  
• Terminate cards you no longer intend to use  

Examples of recurring services include:

• Netflix  
• Spotify  
• Apple Services  
• Google Services  
• Facebook Ads  
• Other subscription-based platforms  

Why These Fees Exist

Every Payora Virtual Dollar Card transaction involves multiple parties, including:

• Card issuing providers  
• Payment processors  
• Banking partners  
• Global card networks (Visa/Mastercard)  

These entities charge fees for:

• Card issuance  
• Transaction processing  
• Currency conversion  
• Cross-border transactions  
• Failed authorization requests  
• Settlement and termination procedures  

At Payora, our objective is to:

• Keep fees as low as possible  
• Maintain complete transparency  
• Deliver a secure and reliable payment experience  
• Ensure long-term sustainability of our virtual card service  

Summary of Fees

 

Final Note

Payora Virtual Dollar Cards are designed to give users easy access to global payments, online subscriptions, international shopping, and digital services.

While certain fees are unavoidable due to the nature of the global card infrastructure, we remain committed to keeping our pricing fair, competitive, and transparent.

By understanding these fees and policies, users can better manage their cards, avoid unnecessary charges, and enjoy a smoother payment experience.

For further assistance, please contact the Payora Support Team.