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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.
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From October 2006, all new and replaced ANZ Visa credit cards will contain a chip. All new and replaced ANZ MasterCard credit cards will 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.
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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.
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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.
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.
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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.
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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.
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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.
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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.
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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.
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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 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 visit your local ANZ branch.
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Yes. Chip credit cards are fast becoming the global standard for credit card security. VISA and MasterCard issuers worldwide have issued more than 400 million chip cards.
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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.
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Yes, you will be able to continue your ATM banking requirements as normal without any change.
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Within Australia there will be no requirement to use a PIN in the foreseeable future. ANZ will advise you of any changes if required. Please continue to sign for verification of your transactions.
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 visit your local ANZ branch.
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Yes, you can download this brochure regarding the chip card:
 ANZ Chip Card brochure (PDF, 416kb)
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