AMP Bank & Mastercard bring numberless debit cards in Australia

By Gloria Mathias

 AMP Bank has announced a partnership with Mastercard to provide payment systems for AMP’s new digital bank designed and developed for the needs of Australia’s micro and small businesses.

The partnership has been announced as AMP, the mobile-first bank, prepares to welcome its first small business and personal banking customers. Mastercard will provide AMP Bank customers with seamless and secure payment technology, including Australia’s first numberless-facing debit card for small businesses.

Through Mastercard, AMP Bank’s debit cards will enable transactions across more than 150 million merchants worldwide and cash access through hundreds of thousands of ATMs.

In an Australian first for small business banking, the 16-digit card number will not appear anywhere on the debit card. This will provide greater security for AMP Bank customers and reflect global advancements in digital-first banking. By removing visible card numbers, small businesses will be less susceptible to fraud and scams while being able to securely and easily access their card details through the new bank app for transactions where card details are required.

The new AMP Bank app will include other new security features, such as advanced fraud and scam protection systems to protect customers and multimodal biometric authentication. Customers will be encouraged to use face ID and fingerprint ID to enter the app and be prompted to record a video selfie when they first sign up, which helps prevent identity theft.

Sean O’Malley, AMP Bank Group Executive, said, “AMP Bank is excited to partner with Mastercard as we prepare to launch what we’re confident will be Australia’s leading digital banking experience. We all know that banks simply must do a better job of supporting the millions of small businesses operating across Australia. That’s why we’ve developed a new mobile banking platform with leading tech that is proven to make it easier and safer for business owners to operate and administer their businesses.”

Richard Wormald, Division President, Australasia at Mastercard, said, “With side hustles booming, many Australians are looking for a solution that works for both their personal and business lives. Mastercard is proud to partner with AMP Bank to deliver these new safeguards to Australian entrepreneurs, empowering them to spend less time worrying about fraud and scams, and more time focusing on what they do best.”