NAB launches chip technology to enhance card security and functionality

Wednesday, 14 May 2008

National Australia Bank customers will experience enhanced credit card security and functionality with the launch of Europay, MasterCard, VISA (EMV) chip technology on their MasterCard cards.

Andrew Maitland, Regional General Manager, Consumer Banking Solutions, NAB said the introduction of chip technology was part of NAB’s ongoing commitment to provide customers with the highest level of banking security.

“All new and existing NAB Gold and Gold Rewards MasterCard cards will be embedded with a microchip, providing the highest level of credit card security available. The introduction of chip technology means card data is more secure and far more difficult to copy.

“Customers with chip-enabled NAB MasterCard cards will have added confidence when making a purchase locally and overseas due to the enhanced security that chip technology provides,” said Mr Maitland.

"In addition we have made a clear commitment to our customers to protect them with leading and innovative security measures to fight on-line fraud through our NAB Defence security promise. Together, NAB Chip and NAB Defence present our credit card customers with one of the highest levels of credit card security available,” said Mr Maitland.

“MasterCard has worked with thousands of financial institutions globally to launch EMV chip programs and we are pleased to be working with NAB to launch chip technology to their cardholders,” said Leigh Clapham, executive vice president, Australasia, MasterCard Worldwide.

“The introduction of EMV chip technology on NAB MasterCard cards provides heightened security for cardholders and is just one of the ways MasterCard is working to keep Australian fraud levels amongst the lowest in the world.”

Chip technology is rapidly becoming the global standard for enhanced credit card security. Any NAB customers planning to use their credit card overseas should call the bank on 13 22 65 and ask to have their chip-enabled NAB MasterCard card sent to them before they travel.

NAB plans to micro chip its other MasterCard cards in the near future.

For further information on chip cards please visit www.nab.com.au or http://www.mastercard.com/au/personal/en/education/chipcard.html

For further information contact:

Media Felicity Glennie-Holmes NAB Media Manager T: 03 8641 3627 M: 0412 673 038

* The information contained in this media release is for media advice purposes only. The contents are true and correct at time of publishing/issuing, however may change over time. For further information about NAB products or rates, please go to Interest Rates, Fees & Charges