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You can see an image of the virtual bank card in the Capitec app.
- Capitec has launched a new virtual bank card, completely digital.
- You can see a picture of the card in the app, but it is not available in physical form.
- This means that no one can steal or duplicate the card.
- But it can still be used for all online payments, including Uber, Netflix, and online retailers.
- For more articles, visit www.BusinessInsider.co.za
Capitec has launched a virtual bank card, which is completely digital.
It is aimed at customers who buy and make payments online and are concerned about card fraud.
Like a physical card, customers can use it online, but it is more secure than a physical card that can be stolen or duplicated.
The virtual card is loaded into the Capitec app and you can view an image of the card, complete with your card number, expiration date, and CVV, in your app.
It is not a duplicate of the customer’s debit card and has a different number and CVV. “In fact, it is a new virtual debit Mastercard that is linked to a customer’s Global One account,” says Capitec.
READ | Capitec’s New Home Loans Are Not Prime-Rate Linked – Here’s What You Need To Know
The virtual card can be used for any online payment, including Netflix, Takealot, and Uber, for example.
There is no real link between the virtual card and the physical card, other than using the same transaction account. This means that if a physical card is lost or stolen, the virtual card will continue to function.
Virtual cards can be stopped immediately in the Capitec app and a new one can be created, with a new number and CVV.
“Never again will you have to worry about lost, stolen or duplicated bank cards. If you are cautious about online transactions, concerned about fraud and security, Capitec’s virtual bank card is your answer to secure shopping, ”the company said in a statement.
Since the card is stored in the application, customers do not have to visit a branch to obtain their virtual cards. The virtual card is free to download and use, and there are no virtual card fees.
“The virtual card is available to all our clients. They just have to activate it in our new banking app, ”says Francois Viviers, Capitec’s marketing and communications executive.
Customers can create their virtual cards in the Capitec application, going to the cards section in the lower tab bar, choosing the “virtual card” option and following the registration steps.
To pay for goods or services online, these details (the number, the expiration date and the security code) must be entered as you normally would for online purchases.
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