Australia and New Zealand Banking Group (ANZ) has launched a new service that allows users to continue to use their digital wallets when they report their credit or debit card as lost or stolen.
Once a customer calls to report their debit or credit card as missing, ANZ blocks the original card and automatically uploads the new virtual card details to the customer’s digital wallet.
ANZ Australia products managing director Katherine Bray said: “Our customers report about 670,000 cards as lost or stolen each year and we know waiting for a new card to arrive can be a real inconvenience.
“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 allowed customers to keep their existing personal identification number, provided it has not been compromised, meaning less change with the same high level of security.
ANZ offered both Apple Pay and Android Pay with approximately 8.3 million transactions across the bank’s digital wallets last year.