Bankwest launches 24-hour ‘pay and vanish’ virtual card.

Bankwest has introduced an innovative virtual card feature in the new Bankwest App: a ‘pay and vanish’, time-limited, digital debit or credit card, offering customers an added layer of protection when making payments.

Virtual cards are designed to help customers better protect themselves from scams, fraud and unwanted transactions by giving them the option of not disclosing their physical debit or credit card details when making day-to-day payments.

Customers can choose to use a virtual card to make payments when shopping on websites they may not have used before, or with new merchants, or when travelling, instead of sharing their physical debit or credit card details. 

The introduction of virtual cards is the latest phase of Bankwest’s accelerated investment in technology to deliver customers uncomplicated and genuinely useful experiences, with an ambition to be Australia’s favourite digital bank.

• The new virtual card feature enables customers to create single or multi-use time-limited, debit or credit cards.
• Single-use virtual cards are valid until used, or for a maximum time of 24 hours, they then vanish from the app.
• Each virtual card has a unique number, expiry date, and CVV, with optional spend and time limits for multi-use cards.
• Virtual card names and colours are customisable in the app.

Comments attributable to Bankwest Chief Digital Officer Eleanor Bensley: 

“We know many of our customers are seeking simpler, less complicated ways to make day-to-day payments, especially when shopping on websites they haven’t used before, or when travelling overseas, or transacting with new merchants. 

“Virtual cards can offer customers an added layer of protection from scams, fraud or unwanted transactions with merchants only able to retain a virtual card's time-limited details.

“We encourage customers to always be cautious before they buy online and to look for unsafe website red flags, such as poor spelling or grammar, bad or fake reviews on the website, or deals that sound too good to be true.

“Our virtual cards feature is the latest in a series of uncomplicated and genuinely useful experiences designed to help customers know where their money is, move it easily and hit their property goals, with more to come this year.

“Bankwest’s aim is to create a digital banking experience that truly stands out in the Australian financial services landscape, and which is designed to meet the needs of a growing number of customers and brokers nationwide.”