Discovery Bank announces doubling down its digital banking services

By Pavithra R

Discovery Bank, a South African company, striving to make the world healthier through rewarding healthy living choices, has announced convenient and safe ways to pay, available with its latest app release. 

Clients who are spending their Discovery Miles online and in-store through the Bank’s partner network, can now get up to 20% off and enjoy greater convenience and security when shopping with virtual cards. Besides, clients can make payments to their contacts who are Discovery Vitality members through Discovery Pay by simply using their cellphone number. Clients get 5% off for activated Vitality programme, plus an additional 5% for having a Discovery Bank account and credit card. The discount is structured as follows:

• Vitality Health = +5% discount
• Vitality Drive = +5% discount
• Vitality Money = +5% discount
• Discovery Bank suite = +5% discount

With Discovery Pay, clients can make payments without the need for banking details. They can make payments to any of their Vitality programme active smartphone contacts.

“Discovery Bank clients can send money seamlessly to a Vitality client from their banking app if they have the cellphone number saved in their contact list. We’ll then securely deposit the funds into the existing linked and verified bank account for the Vitality client, which means it is not necessary to share any banking details over email or in other correspondence,” said Akash Dowra, Head of Client Insights at Discovery Bank.

Discovery Bank recommends using virtual cards for online transactions and subscriptions, and for payment platforms like Samsung, Apple, and Netflix. Because of the possibility of having more than one virtual card, clients can select the types of transactions they want to use each card for, thereby lowering the risk of compromising their bank card.

“With this new capability, our clients will never be left stranded without a card. It’s stored safely in the Discovery Bank app. Furthermore, when the card expires, it will be replaced automatically, and we will carry across any regular payments to the new card, taking away the admin for our clients.”

“Our innovative banking model, with the Vitality Money shared-value platform at the centre, and our leading digital and security capabilities are key differentiators that we will continue to evolve as we broaden our offerings to give clients even more convenience, safety and security,” Dowra concluded.

Established since 1992, Discovery Bank is a South African-born, global company with health, life and short term insurance operations in South Africa and the United Kingdom, and a presence in Germany, France, the United States, Canada, Australia, Singapore, Hong Kong, Philippines, Thailand, Malaysia, China and Japan through our Global Vitality Network.

Also, read The Future of Digital Banking Report 2020.