Virtual debit card launched by Capitec

backstreetboy

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“While other banks have made noise about their virtual cards, which are still to launch in the future, Capitec has quietly gone live with their virtual card, one of their many easy solutions for the modern consumer,” Capitec said.
Lol
iu
 

Thor

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The only issue, Discovery Bank charges me 10% less interest than Capitec, so I have to move.
 

RobotWizard

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In light of recent events, clearly I should move to Capitec. A bank that doesn't just make empty promises, but instead launches features and then talks about it.
 

blunt

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Unfortunately it fails to create a new virtual card when I try. Tried mine and my wife's app, both failed.

But yes, suck it FNB.... I assume this glitch will be resolved before 2021
 

Louis72

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Damn they burned FNB nicely with that statement. :ROFL:
Lets hope their card system doesnt also blow up like this past weekend trying to launch this.
 

cr@zydude

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The only issue, Discovery Bank charges me 10% less interest than Capitec, so I have to move.

10 percentage points less than Capitec's rate, or 90% of Capitec's rate?

On topic: Good for Capitec and an amazing burn on FNB.
 

Bryn

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Unfortunately it fails to create a new virtual card when I try. Tried mine and my wife's app, both failed.

But yes, suck it FNB.... I assume this glitch will be resolved before 2021

Worked fine for me as well. Make sure your apps are up to date, or try reinstalling the apps. Otherwise visit a branch, because it should be working.
 

skimread

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My views on this.

It's super useful.
1. For online subscription services where you get the first month free. Yet they need to verify your credit card. That means you create a virtual card and then you cancel the card immediately after you created your account. You never have to remember to cancel your subscription after a month since the card doesn't exist anymore.
2. For small online shops that you don't trust. You create a virtual card for the exact amount and don't delete it in case you need to claim for a refund, then you set the limit to R0. That way you still have the card if you want a refund.
Hopefully you can get a refund on virtual cards.
3. This is an assumption. But hopefully virtual cards don't have as strict security. I was prevented on buying on niche overseas websites and they don't support the additional security SMS verification the bank requests. If this card has less security it would allow me to buy on those sites.
Also, often the fraud departments of banks prevent transactions that is not your normal buying behavior. It is a pain to phone the bank and ask them to allow it. Now that the bank knows I created a virtual card they won't flag it as fraudulent.

When I went into the app the virtual card's image looks different with the words VIRTUAL on it so it cannot be confused with a normal card if you screenshot it. There is some circumstance where you have to make a copy of your physical card and send it to someone if they request it.
Hmmm. There might be some hack way to get around it by putting your virtual card details on a normal screenshot and then use that.
 

Thor

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10 percentage points less than Capitec's rate, or 90% of Capitec's rate?

On topic: Good for Capitec and an amazing burn on FNB.
Good point should clarified, on 10.8% on Discovery
 

skimread

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Does it support Samsung Pay?
No reason why not. It's like a debit card where you specify the limit. 3rd party shops are interested that the Card Number, Expiry date and CVV number is valid. Some vendors also make a small transaction of a few cents to verify cards.
 

Syphonx

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How does this virtual card help when travelling? You'd still need your physical card when paying for things?
 

blunt

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Worked fine for me as well. Make sure your apps are up to date, or try reinstalling the apps. Otherwise visit a branch, because it should be working.
Worked now when I tried again. Previously it was an error on the app with a ticket number.. so I guess it was a small glitch they resolved.
 
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