Jacob Marais (a self-confessed technophobe) contacted Bank Zero last week, understandably upset. With an anxious tone he explained that he had received a Bank Zero notification for a card transaction which he had no clue of. The transaction was done at a store 23km away and yet his card was safe in his wallet in his left trouser pocket.
The notification did say that the attempted card transaction was declined but based on previous experiences he has had with other banks, he was ready to cancel his card immediately. This is the process which conventional banks follow, after all.
To his utter surprise he learnt that absolutely NO action was required from him and that his money was safe with Bank Zero. It was explained to him that Bank Zero’s unique-in-the-world card patent protects customers from any card skimming activity negatively impacting on their accounts.
Instead of the schlep of Mr Marais having to fill out a whole lot of forms; trying to get all the fraudulent transactions reversed; then not having an active card for days; and thereafter hopefully receiving a new card but with a totally different new number; all while his online card subscriptions (Netflix, Spotify, etc) are bouncing due to a cancelled card… his worst inconvenience now was gleefully watching the ‘decline’ notifications popping up of the failed fraudster attempts.
With confidence and peace of mind Mr Marais could even continue transacting on his original Bank Zero card, with all his own transactions being honoured. A truly satisfied customer for life.
The above true story might not have had such a happy ending. The solution has its roots in a practical experience where some of Bank Zero’s co-founders’ card details were skimmed while at lunch. The first time they learnt about it was when they saw unknown transactions deducted from their accounts. That horrible and traumatising experience of admin schlep led to the design which was subsequently patented and which ultimately protected Jacob.
To see customer anxiety change to true customer peace of mind – that is the purpose of Bank Zero, to be the change.