ANZ Low Rate MasterCard

What is a chip credit card?

A chip credit card has an embedded security microchip. A credit card with a security chip is more secure than one with just the magnetic stripe on the back of the card, as the security chip makes it more difficult to fraudulently copy the credit card details

Chip credit card

What does this mean to ANZ customers?
From October 2006, all new and replaced ANZ Visa credit cards contain a chip. All new and replaced ANZ MasterCard credit cards contain a chip as of July 2008. ANZ was the first bank in Australia to issue credit cards with a security chip and is one of the leaders in Australia in improving security.
What are the benefits of a chip credit card?

A chip credit card is a credit card with an embedded security microchip. A credit card with a security chip is more secure than one with just the magnetic stripe on the back of the card, as the security chip makes it more difficult to fraudulently copy the credit card details. 

Chip technology is fast becoming the global standard for credit card security. In Europe and Asia, it is already being widely used and has proven to be effective in preventing fraud. In Australia, ANZ was the first bank to issue credit cards with a security chip and we are continuing to make changes to bring you the most secure system we can.

How do I use a chip credit card?
As Australia shifts to chip technology, you may see minor differences in how your chip credit card is processed when making purchases. As part of the transition to chip, over the next few years more and more in-store payment terminals will be updated with chip technology.

How your chip credit card is used today

At some merchants your chip credit card will be used the same way as your previous credit card: 

  • the card is swiped through the in-store payment terminal (below) 
  • you then sign the receipt to authorise the transaction.

A credit card being swiped

How your chip credit card will be used in the future

At some merchants, particularly overseas: 

  • the merchant assistant will insert your card into the in-store payment terminal (below) 
  • it will remain inserted for the entire transaction 
  • you will still be required to sign the receipt to authorise the transaction after your card has been removed.

A chip card being inserted into a reader

How does a chip credit card differ from a card with just a magnetic stripe?
A security chip credit card is more secure than one with just a magnetic stripe on the back of the card, because it is more difficult for someone to fraudulently copy your card.
How does the chip provide additional security and help to prevent fraud?
Chip credit cards can store encrypted confidential information, which significantly helps to protect the card against counterfeit fraud. A chip transaction generates a unique transaction and because each transaction generates a different ID, this makes the counterfeit production of the card more difficult. It does not use any additional personal data.
Does the ANZ security chip credit card use RFID (Radio Frequency Identification) technology?
The ANZ security chip credit card does not use RFID Technology. It is not possible for anyone to use a contactless scanner to copy the ANZ security chip credit card.
Could a contactless scanner copy my ANZ security chip credit card?
It is not possible for anyone to use a contactless scanner to copy the ANZ security chip credit card. The ANZ security chip credit card does not use RFID (Radio Frequency Identification) Technology.
Are other countries planning to use chip credit cards?
Chip is fast becoming the global standard for credit card security. Chip cards are now the dominant card type for transactions throughout Europe and increasingly in Asia. Many countries are in the process of changing over to chip card technology.
I am travelling overseas, how will this affect me?

If you are travelling overseas, we strongly recommend that you have a Personal Identification Number (PIN) on your chip credit card. 

Many countries have recently migrated to chip and PIN technology. You can still use your card wherever Visa and MasterCard are accepted and most countries will require that you sign for verification of the transaction, as you normally do in Australia. 

However some countries may require transactions to be completed with a PIN instead of a signature. This is why we strongly recommend you have a PIN on your chip credit card. If you do not already have a PIN on your card you will need to call ANZ on 13 13 14 visit your local ANZ branch.

Does the chip store additional information regarding my transactions and personal information?
No, the chip cannot obtain any additional personal information. The chip holds the same personal data as that on the magnetic stripe (eg. cardholder name, card number and expiry date), and the chip also provides additional security features to safeguard against counterfeiting.
Do chip credit cards work in the ATM?
Yes, you will be able to continue your ATM banking requirements as normal without any change.
Do I have to use a PIN to make chip credit card purchases or can I still sign for authorisation?

If you are travelling overseas, we strongly recommend that you have a PIN on your credit card. Many countries have recently migrated to chip and PIN technology, which means that those countries may require transactions to be completed with a PIN instead of a signature. 

If you do not already have a PIN on your card you will need to call ANZ on 13 13 14 visit your local ANZ branch.

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