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ANZ/VIsa to introduce chip technology

Document date:  Tue 24 Jul 2001
Published:  Tue 24 Jul 2001 09:52:51
Document No:  178944
Document part:  A
Market Flag:  N
Classification:  Other

AUSTRALIA AND NEW ZEALAND BANKING GROUP       2001-07-24  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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MEDIA RELEASE

ANZ and Visa today announced a strategic program to convert ANZ's
credit card technology to chip and launch a new secure Internet
shopping system.

As part of the multi-year program, ANZ will be the first Australian
bank to:

* convert its merchant terminals to chip-enabled MultiPOS terminals
that support the Europay Mastercard Visa (EMV) standard for secure
transactions at point of sale

* launch Visa 3-D Secure - a new, more secure technology designed to
protect cardholders and merchants from Internet-related fraud

* work with Visa to introduce multi-application chip credit cards.

ANZ Managing Director Cards and e-Payments, Mr Brian Hartzer said the
program established ANZ as the first bank in Australasia to implement
chip technology as a key platform for the future.

"This program is exciting for both ANZ's cardholders and merchant
customers as it is the first substantial commitment to chip
technology in Australia and New Zealand," Mr Hartzer said.

"It means cardholders will be able to shop with much more confidence
on the Internet. Also, merchants using the new MultiPOS terminal will
benefit from additional chip functionality, and EMV's added security
and chargeback protection as it rolls out globally," he said.

Executive Vice President, Visa International Australia and New
Zealand, Mr Gordon Wheaton said the move by ANZ was an important step
in laying the foundation for the full rollout of chip based cards in
Australia over the coming years.

"Once this infrastructure is in place it removes one of the most
significant barriers to the introduction of chip based cards for
Australian and New Zealand cardholders," said Mr Wheaton.

"Importantly, this initiative also means ANZ will be able provide
customers with the same confidence of shopping on the Internet as
they currently have in the real world.

"The program should therefore be seen as one of the most significant
developments in the Australian and New Zealand credit card markets in
recent years," he said.

For media enquiries, contact:

Paul Edwards  
HEAD OF GROUP MEDIA RELATIONS     
ANZ                              
Tel: 03-9273 6955 or 0409-655 550 (mobile) 
Email edwardp12@anz.com 

Peter Vicary
DIRECTOR, CORPORATE COMMUNICATIONS
Visa International, Australia and New Zealand
Tel: 02-9256 2459
Email: pvicary@visa.com