ANZ has new solution for lost and stolen cards

As soon as a customer calls to report their debit or credit card as missing, ANZ puts a stop on the original card and automatically uploads the new virtual card details to the customer’s digital wallet.

ANZ managing director products Australia, Katherine Bray said the bank’s customers report about 670,000 cards as lost or stolen each year.

“We know waiting for a new card to arrive can be a real inconvenience,” she said. “Now our customers can keep using their digital wallet, whether it’s Apple Pay or Android Pay, to make purchases while they wait for the new physical card to arrive in the mail.

“For many customers their smartphone is now the primary way they do their banking, including making purchases, so we’re working hard to keep improving their mobile experience with changes like this.”

ANZ has also made it possible for customers to keep their existing Personal Identification Number (PIN), provided it hasn’t been compromised, meaning less change with the same high level of security.

[Related: Major bank launches mobile payment system for businesses]