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Capitec has launched a new virtual bank card, which will allow the bank’s customers to shop online more securely.
The bank said the virtual card is a fully digital bank card that is stored in a customer’s Capitec banking app. Like a physical card, customers can use it online, but it is more secure 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 in 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 to scan to pay transactions and load for payment on apps like Netflix, Takealot and Uber, securely,” said Francois Viviers, Capitec’s marketing and communications executive.
Viviers said the need for secure online transactions is a priority for many customers as the Covid-19 pandemic made them more dependent on ordering and paying for products and services online.
With Black Friday and the holiday season on the way, retailers are doing their best with online advertising deals. In addition to the security benefits of the virtual card, there is the ability to stop it immediately, he said.
“If a customer has a security problem, they can stop the virtual card in an instant and request a new one in our application. The virtual card limit can also be set by the customer in our app and can be quickly changed according to customer needs, ”he said.
How does it work
Customers can create their virtual cards in the Capitec app. 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.
It is not a duplicate of the customer’s physical debit card and has a different CVV and number. Instead, the card acts like a virtual debit Mastercard that is linked to a customer’s Global One account. Customers can manage the virtual card and its limits in the Capitec app.
The steps to activate a Capitec virtual card are as follows:
- Login to the Capitec Bank app;
- Touch ‘cards‘ in the lower tab bar;
- Choose ‘virtual card’ in the upper right corner;
- Tap the add ‘virtual card’ button, then follow the registration steps to complete.
“Customers can simply go to the Capitec app to view the card details. They can touch the image of the virtual card on the application screen and the back of the card will appear with the card number, the expiration date and the security code, ”said the bank.
“To pay for goods or services online, these details (the number, the expiration date and the security code) must be entered as is normally done with online purchases. Remember to set your online purchase limit in the app to allow the transaction to go through. “
Read: FNB Credit Card Customers Run Out Of Balance And Decline Payments Due To ‘FICA Bug’
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