In the next few months, all new replacement and renewal Visa Debit cards we issue will feature a secure embedded microchip to give you a higher level of confidence in the security of your transactions.

The microchip is a smart chip, which appears as a gold or silver square embedded on the left hand side on the front of the cards. The chip stores your account details but unlike the magnetic stripe, the microchip is much harder to copy, which provides an unrivalled level of protection against counterfeiting, card skimming and other fraudulent use.

With this new technology, instead of swiping your card, you may soon be asked to insert your card in the new EFTPOS terminals. The card remains in the terminal throughout the transaction and confirms your identity and transaction authorisation by requesting your PIN.
During the upgrade transition period, you will still be able to swipe and sign for transactions as before. As merchant terminals are upgraded, however, ‘dipping the chip’ and entering a PIN will become the new easier, faster and safer way to transact. If you are travelling overseas, we suggest you memorise your PIN as this is now the preferred payment authorisation method for most merchants.

If you’d like to know more about our introduction of the new chip cards for Visa Debit cardholders, call us on 13 25 85 or visit your local Personal Financial Centre.