ANZ and Visa today announced a strategic program to convert ANZ’s credit card
technology to chip and launch a new secure Internet shopping system.
As part of the multi-year program, ANZ will be the first Australian bank to
Â· convert its merchant terminals to chip-enabled MultiPOS terminals that support
the Europay Mastercard Visa (EMV) standard for secure transactions at point of
Â· launch Visa 3-D Secure – a new, more secure technology designed to protect
cardholders and merchants from Internet-related fraud
Â· work with Visa to introduce multi-application chip credit cards.
ANZ Managing Director Cards and e-Payments, Mr Brian Hartzer said the program
established ANZ as the first bank in Australasia to implement chip technology
as a key platform for the future.
ÂThis program is exciting for both ANZÂs cardholders and merchant customers as
it is the first substantial commitment to chip technology in Australia and New
Zealand,Â Mr Hartzer said.
ÂIt means cardholders will be able to shop with much more confidence on the
Internet. Also, merchants using the new MultiPOS terminal will benefit from
additional chip functionality, and EMVÂs added security and chargeback
protection as it rolls out globally,Â he said.
Executive Vice President, Visa International Australia and New Zealand, Mr
Gordon Wheaton said the move by ANZ was an important step in laying the
foundation for the full rollout of chip based cards in Australia over the
ÂOnce this infrastructure is in place it removes one of the most significant
barriers to the introduction of chip based cards for Australian and New Zealand
cardholders,Â said Mr Wheaton.
ÂImportantly, this initiative also means ANZ will be able provide customers
with the same confidence of shopping on the Internet as they currently have in
the real world.
ÂThe program should therefore be seen as one of the most significant
developments in the Australian and New Zealand credit card markets in recent
years,Â he said.