Numberless bank cards are revolutionising the way we approach payment security. As digital banking continues to evolve, these innovative cards offer a range of benefits that go beyond traditional payment methods. With enhanced protection against fraud and greater control over financial transactions, numberless cards are becoming an essential tool for both individuals and small businesses.
In this article, we’ll explore how these cards are reshaping the landscape of secure banking and the advantages they bring to everyday financial management.
Security Benefits of Numberless Bank Cards
One of the primary advantages of numberless bank cards is their enhanced security. When no details are visible, these cards help mitigate the risks of card skimming, theft, and online fraud. The following are some of their key security benefits.
Reduced Risk of Card Fraud
Traditional credit and debit cards expose sensitive details that fraudsters can use to make unauthorised transactions. With numberless cards, these details remain hidden, significantly reducing the risk of card information being stolen.
Enhanced Digital Protection
Since the card details are stored securely within a banking app, users can enable biometric authentication, two-factor authentication (2FA), or app-specific login requirements to access their card information. This adds multiple layers of security to prevent unauthorised access.
Seamless Lock and Unlock
If a numberless card is lost or stolen, users can easily lock or replace their card via their banking app without worrying about sensitive information falling into the wrong hands.
Greater Control Over Transactions
Many numberless bank cards allow users to generate virtual card numbers for one-time or recurring transactions. This feature minimises the exposure of primary card details, offering greater protection against fraudulent activities.
Benefits of Numberless Bank Cards for Small Businesses
For small businesses in Australia, payment security and streamlined transactions are crucial. Numberless credit cards and debit cards can provide multiple benefits for business owners.
Stronger Fraud Prevention
With fraud-related losses being a major concern for small businesses, adopting numberless bank cards helps protect against unauthorised transactions and card skimming. This is particularly useful for businesses that make frequent online purchases or handle sensitive financial transactions.
Simplified Expense Management
Business owners can use virtual card numbers to create different accounts for various business expenses, making it easier to track spending across teams or projects. Additionally, integrating numberless cards with digital banking platforms allows real-time tracking and budgeting.
Faster and More Secure Transactions
Since numberless cards integrate seamlessly with mobile wallets and contactless payment systems, business owners can process transactions quickly and securely. This is beneficial for small businesses that rely on fast checkouts and digital banking solutions.
Lower Risk of Card Misuse by Employees
For businesses that provide company cards to employees, numberless cards reduce the risk of unauthorised use since the card details are not physically available. Employers can also set spending limits and monitor transactions more efficiently through banking apps. As small businesses are defined as having no more than 20 employees, a numberless card linked to a banking app gives the business owner effective control, as they will have the phone with the app installed on their person.
AMP Bank and Mastercard Launch Digital Banking Service
AMP Bank announced in January 2025 that it had landed a strategic partnership with Mastercard for a new digital banking service geared towards micro and small businesses. British bank Starling is providing the back-end infrastructure for the system using its Engine for Starling technology. The first debit cards under the new service are issued this month.
Instead of displaying the 16-digit card number, CVV, and expiration date on the card itself, these details are securely stored in a new AMP Bank app. Depositors can register for that app by providing a face ID, fingerprint ID, and video selfie, to secure the account against identity theft. AMP is already preparing to fortify the app with advanced fraud and scam protection systems.
The card itself can still be used for EFTPOS payments. Aside from networking with core banking systems, the Mastercard connection also benefits AMP in terms of depositors being able to access their accounts from over 150 million Mastercard-enabled ATMs around the world.
Numberless Cards and Vision for the Future
AMP’s numberless cards are part of Mastercard’s overall plan to eliminate numbers from physical debit and credit cards by 2030. Speaking to the Sydney Morning Herald’s David Swan, Mastercard chief consumer product officer Bunita Sawhney said the next step is to use biometric authentication for the app to create digital tokens that only the account owner can use. Mastercard division president for Australasia Richard Wormald added that the booming number of side hustles tailors perfectly to digital banking, as small business owners need flexible options to handle their finances without the danger of scams and vulnerable accounts.
The Bottom Line
Numberless debit and credit cards represent the future of secure and convenient banking. With enhanced security features, seamless digital integration, and practical benefits for small businesses, these cards offer a compelling alternative to traditional payment methods. AMP Bank’s introduction of a numberless card system highlights the growing demand for safer banking solutions in Australia, making it an excellent option for business owners looking to protect their financial transactions.
DISCLAIMER: This article is for informational purposes only. QUICKLE has no business relations with any bank or payment service mentioned.
