{"id":100763,"date":"2025-01-29T13:06:13","date_gmt":"2025-01-29T02:06:13","guid":{"rendered":"https:\/\/en.econostrum.info\/au\/?p=100763"},"modified":"2025-01-29T13:07:55","modified_gmt":"2025-01-29T02:07:55","slug":"amp-bank-launches-australias-first-numberless-debit-card","status":"publish","type":"post","link":"https:\/\/en.econostrum.info\/au\/amp-bank-launches-australias-first-numberless-debit-card\/","title":{"rendered":"Australia\u2019s First Numberless Bank Card Is Here\u2014AMP Bank Just Took the First Step"},"content":{"rendered":"\n

AMP Bank has introduced Australia’s first numberless debit card<\/strong>, aiming to improve security for small businesses by reducing the risk of fraud and data breaches. The bank announced the initiative on Tuesday, with the cards set to be issued starting in February.<\/p>\n\n\n\n

Strengthening Payment Security<\/h2>\n\n\n\n

The numberless card<\/strong> is designed to protect card details from being compromised through data breaches or fraud at small businesses. Without printed card numbers, expiration dates, or CVVs, the risk of hackers stealing sensitive data from merchants is significantly reduced.<\/p>\n\n\n\n

To access card details, users must log into the AMP banking app<\/a><\/strong>, ensuring that the information remains secure and accessible only when needed. The move aligns with a broader industry shift toward enhanced payment security, with MasterCard<\/strong> aiming to phase out card numbers entirely by 2030.<\/p>\n\n\n\n

Global Adoption of Numberless Cards<\/h2>\n\n\n\n

AMP Bank joins a growing list of financial institutions embracing numberless technology<\/strong>. The first major rollout of such cards occurred in Europe in 2020<\/strong>, when digital banking firm Curve<\/strong> introduced them. Chase UK<\/strong> and Barclaycard<\/strong> followed suit, while India\u2019s FamPay<\/strong> adopted the technology the same year.<\/p>\n\n\n\n

The trend reflects a shift toward digital-first banking solutions that prioritize security and fraud prevention, particularly for small businesses and entrepreneurs.<\/p>\n\n\n

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Consumers can go into the AMP app to get the card number if need be.<\/em><\/figcaption><\/figure><\/div>\n\n\n

A Partnership with Mastercard and Starling Bank<\/h2>\n\n\n\n

The AMP numberless card<\/strong> is part of the bank\u2019s broader digital transformation, developed in collaboration with MasterCard<\/strong> and supported by technology from London-based Starling Bank<\/strong>. The initiative aims to offer small business owners a more secure and seamless banking experience.<\/p>\n\n\n\n

Richard Wormald, MasterCard Australasia\u2019s president<\/strong>, emphasized the benefits of the new card, particularly for small businesses. \u201cNumberless cards represent a significant step forward in payment security, offering cardholders additional protection against fraud and account compromise,\u201d he said.<\/p>\n\n\n\n

The move also aligns with the rise of side businesses<\/strong> in Australia, as more individuals seek solutions that integrate both personal and business financial management.<\/p>\n\n\n\n

Amp\u2019s Financial Standing<\/h2>\n\n\n\n

AMP Bank currently manages $23 billion in loans<\/strong> and $21 billion in deposits<\/strong>. The announcement of the new debit card came alongside a 0.7% drop<\/strong> in the company\u2019s share price within the first hour of trading on Tuesday.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

AMP Bank is rolling out Australia’s first numberless debit card, promising better security for small businesses. With no printed card details, fraud risks could be significantly reduced\u2014but how does it actually work?<\/p>\n","protected":false},"author":5,"featured_media":100768,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44],"tags":[],"class_list":["post-100763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33","no-featured-image-padding"],"_links":{"self":[{"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/posts\/100763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/comments?post=100763"}],"version-history":[{"count":5,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/posts\/100763\/revisions"}],"predecessor-version":[{"id":100771,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/posts\/100763\/revisions\/100771"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/media\/100768"}],"wp:attachment":[{"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/media?parent=100763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/categories?post=100763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/tags?post=100763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}