NAB develops solutions for lost or stolen cards

The new instant card feature lets customers who have NAB Pay on their compatible Android device use the replacement card within minutes of it being issued, without having to wait days for the physical card to arrive in the mail, according to itwire.com.

Since the beginning of 2016, more than 225,000 debit and credit transactions have been made using NAB Pay. Also, NAB is the first Australian bank to use the Visa Token Service, which provides an extra layer of security. Tokenisation replaces a customer’s credit card number with a unique digital token that can be used for digital payments, without revealing sensitive account information.

NAB Pay is available as part of the NAB Mobile Internet Banking App on compatible Android devices, and can be used wherever contactless payments are accepted.