advertisement
Facebook
X
LinkedIn
WhatsApp
Reddit

Capitec makes a new virtual bank card available to its customers

If you are a Capitec customer and concerned with security with the height of Black Friday around the corner and the festive season looming, you may be interested to know about the financial institution‘s latest announcement – a virtual bank card.

One of the first in the country to do so, Capitec has gone live with its virtual bank card, which is now available to sing up for via the bank’s mobile app.

With fraud and online theft on the rise during lockdown, it therefore looks like the virtual bank card launches at an opportune time for Capitec. Added to this of course, is the boon of ecommerce in recent months, which too is tied to the pandemic and lockdown.

“Online shopping and digital payments are growing exponentially every year. While savvy online shoppers will quickly take to the flexibility and ease of virtual bank cards, these cards can especially benefit all those who have been weary of online transactions in the past. For them, it can open up a new world of convenience, without having to worry about card fraud,” adds Francois Viviers, executive of Marketing and Communications at Capitec.

He notes that customers can use their virtual cards to securely make payments and purchase products online, as well as using it as the default card for scan to pay transactions and load payments onto apps like Netflix, Takealot and Uber.

Capitec also highlights that as the card is stored in the app, clients do not have to visit a branch to get their virtual cards. It is free to download and to use, and there are no virtual card fees too.

It is not a duplicate of the client’s physical debit card and has a different number and CVV, Capitec adds. This new, virtual debit Mastercard, is linked to a client’s Global One account, with the ability to manage its limits via the Capitec mobile app.

Accessing your virtual card is as follows:

  1. Sign in to the Capitec Bank app.
  2. Tap Cards in the bottom tab bar.
  3. Choose Virtual Cardin the top-right corner.
  4. Tap Add Virtual Card button, then follow the sign-up steps to complete.

We certainly expect the use of virtual cards to grow because of the safety and convenience they offer, but also because they bring about a new experience of comfortable and secure online payments to those who were reluctant to do digital transactions in the past,” Viviers concludes.

It should therefore be interesting to see how many Capitec customers take up this new digital product.

advertisement

About Author

advertisement

Related News

advertisement