Capitec has launched a virtual card which is one of many easy solutions for the modern consumer. Photo: File
Capitec has launched a virtual card which is one of many easy solutions for the modern consumer. Photo: File

Capitec launches virtual banking card

By Staff Reporter Time of article published Nov 20, 2020

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DURBAN - Capitec has launched a virtual card which is one of many easy solutions for the modern consumer.

According to the bank, customers never have to worry about lost, stolen or duplicated bank cards again because of the virtual card and it is the answer to safe online shopping.

Capitec is now expanding its digital offering to clients with the launch of a virtual banking card.

The card is a completely digital bank card that is saved on a client’s Capitec banking app and is safer than a physical card as no-one can steal or duplicate it.

“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,” said Francois Viviers, Executive of Marketing and Communications at Capitec.

He added, “The virtual card is available to all our clients. They just have to activate it on our new banking app. It can also be set as the default card for scan to pay transactions and loaded for payment onto app.”

Added to the virtual card’s security benefits, is the ability to stop it immediately if a client has any security concerns, they can stop the virtual card in an instant and apply for a new one on the Capitec 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.

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. It is in fact a new, 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.

Steps to activate a Capitec Virtual Card:

1. Sign in to the Capitec Bank app

2. Tap Cards in the bottom tab bar

3. Choose Virtual Card in the top-right corner

4. Tap Add Virtual Card button, then follow the sign-up steps to complete.

BUSINESS REPORT ONLINE

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