What Are the Fees for Virtual Prepaid Cards?

Virtual prepaid cards have become a practical payment tool for businesses managing online spend, employee expenses and cross-border transactions. But while the setup is simple, the cost structure behind prepaid cards can vary widely depending on the virtual card issuer, card program design, and transaction volumes.

Understanding these fees upfront helps businesses protect cash flow, scale securely, and choose a prepaid card API, such as Onafriq's, that supports long-term growth.

The Main Cost Areas Businesses Should Expect

Virtual prepaid cards don’t usually come with a single fee. Instead, costs are spread across how cards are issued, loaded, and managed.

Card Issuance Fees

Some virtual card issuers charge a fee to issue cards, especially when businesses need:

• Multiple prepaid cards for teams or departments.
• Both virtual and physical cards.
• Custom card issuing programs.

With modern card-issuing infrastructure, businesses can issue cards instantly through an app or API, reducing operational friction. Onafriq supports scalable card-issuing solutions that allow businesses to issue cards through a single integration, helping reduce long-term issuing costs while maintaining secure controls.

Card Loading and Funding Costs

To use a prepaid debit card or prepaid credit card, funds must be loaded first. This may involve:

• Load or top-up fees: Some banks or wallets may charge for adding money. With Onafriq, businesses can transfer funds into their program accounts or wallets via bank transfers without charging a top-up fee itself, though sending banks may charge fees.
• Currency conversion fees: Using a different currency may incur conversion costs; Onafriq handles multi-currency programs.
• Transfers from a linked bank account or mobile wallet: Onafriq’s infrastructure lets users add funds via bank transfers and mobile money collections, giving flexibility in how cards are funded.

For businesses operating across African markets, support for mobile money wallets alongside traditional bank funding reduces reliance on cash and improves access to funds. Efficient funding also helps teams move away from petty cash and manual expense handling.

Transaction Fees

Transaction fees usually represent the largest portion of prepaid card costs. These apply when cardholders:

• Shop online.
• Make e-commerce purchases.
• Pay suppliers.
• Withdraw cash from an ATM.

Fees vary depending on whether payments are processed via Visa or Mastercard, the transaction location and whether payments happen online or in-store. A well-designed payment infrastructure helps businesses track transactions in real time, manage spend limits and maintain secure payment flows.

Onafriq’s payment infrastructure supports high-volume, secure card transactions, helping businesses scale without losing visibility or control.

Foreign Exchange and Currency Fees

When prepaid cards are used across borders, currency conversion and FX markups apply. These fees often impact:

• Subscription payments.
• International suppliers.
• Cross-border commerce.

Transparent FX pricing allows businesses to preserve value and forecast expenses more accurately. Some providers also support issuing cards in local currency, reducing unnecessary conversion costs.

Why Fee Transparency Matters at Scale

As organisations grow, prepaid card usage expands quickly:

• More cardholders: Issuing more prepaid cards can increase total fees if not managed carefully.
• Higher transaction volumes: Frequent payments and top-ups can multiply small fees into significant costs.
• More markets and currencies: Paying in multiple countries increases exposure to currency conversion and FX fees.
• Increased operational complexity: Managing many cards, accounts, and wallets can create hidden costs without an integrated system.

Without clear fee structures, costs can quietly erode margins. This is why many businesses choose providers that combine card issuing, payments, and wallet connectivity into one integrated solution.

Making Prepaid Card Costs Work for Your Business

Virtual prepaid cards offer flexibility, control, and enhanced security, but understanding the full fee landscape is essential to unlocking their value. From issuing and loading to transactions and foreign exchange, the right infrastructure makes all the difference.

With transparent pricing and a robust prepaid card API, businesses can streamline payments, manage expenses confidently and grow across markets with clarity and control.

Onafriq enables businesses to launch and manage secure prepaid card programs built for African and cross-border markets, helping companies scale efficiently without fragmented systems.