{"id":353715,"date":"2019-11-13T13:39:34","date_gmt":"2019-11-13T11:39:34","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=353715"},"modified":"2019-11-13T14:24:11","modified_gmt":"2019-11-13T12:24:11","slug":"this-is-how-bank-zero-plans-to-make-its-bank-cards-different-to-any-other-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/353715\/this-is-how-bank-zero-plans-to-make-its-bank-cards-different-to-any-other-in-south-africa\/","title":{"rendered":"This is how Bank Zero plans to make its bank cards different to any other in South Africa"},"content":{"rendered":"<p>On Wednesday (13 November), Bank Zero announced that it has begun closed trials on its new debit card ahead of its planned official launch in 2020.<\/p>\n<p>The bank said that this new card has been patented and includes a number of new security features.<\/p>\n<p>\u201cTo protect customers from (the traumatic experience of fraud), Bank Zero has designed a new patented card which offers vital security and convenience.<\/p>\n<p>\u201cThis patent will dramatically minimise the negative impact of card data theft and card skimming on Bank Zero customers,\u201d the new bank said.<\/p>\n<p>While the bank itself did not provide further information on how these cards will be different from other bank&#8217;s offerings, a 2018 patent filing by the group shows how the card may function.<\/p>\n<p>The patent shows what appears to be a normal debit card, however the key difference is that the card can have three different account numbers associated with it for different payment types.<\/p>\n<p>There are effectively three account numbers contained within the card:<\/p>\n<ul>\n<li>The first is a set of alphanumeric numbers displayed on the front of the card;<\/li>\n<li>The card also includes a magnetic stripe which has data within it &#8211; including a card number;<\/li>\n<li>The card also includes a processor with an associated memory module (the chip seen on the card). This memory also has data and a card number attached to it.<\/li>\n<\/ul>\n<p>Current banks typically offer one number on a card linked to one account &#8211; and different types of accounts (credit, debit, petrol) require different numbers with different cards.<\/p>\n<p>However, the patent filing shows that the three different card numbers on the Bank Zero card could be three different credit card numbers, debit card numbers or private card numbers &#8211; or a mixture of these.<\/p>\n<p>These cards may also be used for different types of transactions, it shows.<\/p>\n<p>&#8220;For example, the first card number could be a credit card number for magnetic swipes only, the second card number could be a debit card number for online purchases only and the third card number could be a private card number for tap &amp; dip purchases only.&#8221;<\/p>\n<p>&#8220;As three different card numbers are stored on the card, the present invention enables separate processes to be implemented for each card number.<\/p>\n<p>&#8220;This means that a card issuer can now process transactions based on the card implementation characteristics. Both authorisation and settlement processes are simplified and thereby better managed.&#8221;<\/p>\n<p>The drawing included with the patent is posted below, along with a brief summary of the labels.<\/p>\n<ul>\n<li><strong>10<\/strong> \u2013 Bank Zero Card<\/li>\n<li><strong>12<\/strong> \u2013 Alphanumeric card number 1<\/li>\n<li><strong>14<\/strong> \u2013 Magnetic stripe card number 2<\/li>\n<li><strong>16<\/strong>\u00a0\u2013 EMV chip card number 3<\/li>\n<\/ul>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/11\/Front-of-card.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-353721 aligncenter\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/11\/Front-of-card.png\" alt=\"\" width=\"752\" height=\"576\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/11\/Front-of-card.png 752w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/11\/Front-of-card-300x230.png 300w\" sizes=\"auto, (max-width: 752px) 100vw, 752px\" \/><\/a><\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/11\/Back-of-card.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-353719 aligncenter\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/11\/Back-of-card.png\" alt=\"\" width=\"706\" height=\"426\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/11\/Back-of-card.png 706w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/11\/Back-of-card-300x181.png 300w\" sizes=\"auto, (max-width: 706px) 100vw, 706px\" \/><\/a><\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/banking\/353547\/bank-zero-begins-countdown-to-opening-day\/\" target=\"_blank\" rel=\"noopener noreferrer\">Bank Zero begins countdown to opening day<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Wednesday (13 November), Bank Zero announced that it has begun closed trials on its new debit card ahead of its planned official launch in 2020.<\/p>\n","protected":false},"author":10,"featured_media":307278,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[12875,26],"class_list":["post-353715","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-bank-zero","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/353715","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=353715"}],"version-history":[{"count":12,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/353715\/revisions"}],"predecessor-version":[{"id":353745,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/353715\/revisions\/353745"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/307278"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=353715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=353715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=353715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}