ANZ introduces new technology to make banking safer and easier for customers
First bank worldwide to introduce EMV secure ‘Tap & PIN’ ATM technology to reduce skimming. Launches innovative mobile card reader for ANZ FastPay app. ANZ’s Mobile Wallet coming in early 2015.
ANZ today announced new initiatives to further improve the customer experience with the launch of the world’s safest ATM, and market-leading enhancements to its FastPay app that allows convenient and secure processing of credit or debit cards through mobile devices.
WORLD-FIRST EMV SECURE ‘TAP & PIN’ ATM
Industry data shows counterfeit card fraud costs the industry around $25 million a year in Australia, with global losses estimated to exceed $1.4 billion.
Working with ATM manufacturer NCR and Visa, ANZ will roll-out an EMV secure ‘Tap & PIN’ solution that reads card data without having to insert the card in the reader. ANZ will introduce the technology to its ATMs throughout 2015.
ANZ CEO Australia Philip Chronican said: “The growing dependence on technology means customers want simpler and faster ways to bank – but they also want to know their money is secure.
“Counterfeit card fraud is a massive issue for the industry and law enforcement that causes significant inconvenience for customers. ANZ’s ‘Tap & PIN’ solution is a global first and will go a long way in the fight against card skimmers and to make banking safer and easier,” Mr Chronican said.
The ATM technology will in future also enable Near Field Communication (NFC) for authentication and pre-staging transactions at ATMs, using a mobile phone or other portable devices, allowing customers to pre-program their mobile device with the value and denomination for the cash they want to withdraw.
INNOVATIVE CARD READER FOR ANZ FASTPAY
ANZ also announced today it will launch an innovative EMV and PCI compliant card reader device for ANZ FastPay that connects through the audio-jack port in an iOS or Android device.
Developed in partnership with thumbzup.com, a global leader in mobile payments, the device which will be available in the first half of 2015, meets all industry security standards and features an innovative, secure PIN entry method that allows ANZ’s business customers to process credit or debit cards quickly and securely on a mobile device.
“This is the most secure way to process mobile payments and is in direct response to feedback from our business customers who told us they wanted a more convenient way to enter card details.
“I’m pleased we’ve been able to bring this innovative, simple and easy-to-use mobile point-of-sale solution to the market which enables customers to accept both credit and debit payments using PIN on their preferred mobile device,” Mr Chronican said.
ANZ MOBILE WALLET COMING IN EARLY 2015 Following a successful trial, ANZ will be launching its ‘mobile wallet’ solution in early 2015, which uses NFC technology to provide customers with a contactless mobile phone payments system. “Customers have openly embraced ‘pay wave’, with around 74 per cent of all debit card transactions currently taking place using this technology. This solution provides our customers with another convenient way to make purchases via their mobile device, wherever contactless cards are accepted,” Mr Chronican said.
Customers can securely transfer and store a single ANZ card or multiple ANZ cards on their phone and use those cards to transact at contactless terminals.
The announcements came at ANZ’s two-year anniversary of its five-year, $1.5 billion Banking on Australia investment program, designed to make it easier for customers to bank with ANZ.