I’ve blogged before about BNZ’s stupid Netguard Card – which has codes on it to allow you to login to your bank account. Perish the thought that you are travelling when the new one is issued, or that you lose it without first taking a photograph and placing it on your blog or Flickr.
BNZ updates the card every year – and that’s where we can start figuring out how much it costs.
They use cards from Entrust, a company that entertainingly does not even own entrust.co.nz. (pretty trustworthy huh) There is, however, a pricelist on their site, and they are quoting US$8.26 per user for a yearly process for 10,000 cards.
They are quick to point out the savings of the card versus the alternative of a Token:
That’s not so bad – at all. Indeed even with recent exchange rates and a healthy “Where the heck is New Zealand?” margin, these things are probably coming in at NZ$4-5 dollars each. That’s still $4-5 that I’d rather have in my account however.
The comparison for 80,000 users looks pretty bad for those tokens though – banks that use them would pay an extra US$23m.
So as I understand it BNZ is now obliged to use some sort of additional security check, and so choosing the Netguard Card is the least bad alternative. It’s cheap, fits in my wallet, and can be photographed and stored digitally.
I’d still prefer the option of nothing though.