Capitec has launched a new virtual banking card, which will allow the bank’s clients to shop more safely online.
The bank said that the virtual card is a completely digital bank card that is saved on a client’s Capitec banking app. Like a physical card, clients can use it online, but it’s safer than a physical card as no-one can steal or duplicate it.
“The virtual card is available to all our clients. They just have to activate it on our new banking app. They can then use their virtual cards to securely make payments and purchase products online.
“It can also be set as the default card for scan to pay transactions and loaded for payment onto apps such as Netflix, Takealot and Uber, safely and securely,” said Francois Viviers, executive of marketing and Communications at Capitec.
Viviers said the need for safe and secure online transactions is top of mind for many clients as the Covid-19 pandemic made them more reliant on ordering and paying for products and services online.
With Black Friday and the festive season on its way, retailers are pulling out all the stops with advertising online deals. Added to the virtual card’s security benefits, is the ability to stop it immediately, he said.
“If a client has any security concerns, they can stop the virtual card in an instant and apply for a new one on our app. The virtual card’s limit can also be set by the client on our app, and can quickly be changed depending on the client’s need,” he said.
How it works
Clients can create their virtual cards on the Capitec app. As the card is stored in the app, clients do not have to visit a branch to get their virtual cards. The virtual card is free to download and to use, and there are no virtual card fees.
It is not a duplicate of the client’s physical debit card and has a different number and CVV. Instead, the card acts as a virtual debit Mastercard that is linked to a client’s Global One account. Clients can manage the virtual card and its limits on the Capitec app.
The steps to activate a Capitec virtual card is as follows:
Sign in to the Capitec Bank app;
Tap ‘cards‘ in the bottom tab bar;
Choose ‘virtual card’ in the top-right corner;
Tap add ‘virtual card’ button, then follow the sign-up steps to complete.
“Clients can simply go onto the Capitec app to view the card’s details. They can tap the virtual card image on the app screen and the back of the card will appear with the card number, expiry date and the security code,” the bank said.
“To pay for online goods or services, these details (the number, expiry date and security code) should be entered as would normally be done with online purchases. Remember to set your online shopping limit on the app to allow for the transaction to go through.
In other news – She is finally here – Kwesta and wife Yolanda welcome their second child (Photos)
Congratulations are in order for South African rapper Kwesta and his wife Yolanda Vilakazi. The couple has just announced that they welcomed their second child together, Kenya Elihle Vilakazi. Learn more
Source: businesstech
