Post by mangomoney on Apr 18, 2016 10:22:26 GMT 7
Banks to issue chip cards from May 16
Move aims to enhance financial security
Published: 18/04/2016 at 08:55 AM
Newspaper section: Business
Mandatory chip-embedded card issuance for debit and ATM cards will come into effect on May 16 nationwide in a move aimed at enhancing financial security, says a senior Bank of Thailand official.
"Debit cards issued by commercial banks must be chip-embedded starting from May 16, [while] ATMs will support chip cards as well," said Nisarat Trairatvorakul, senior director of the payment systems policy department.
The main aim of the move is to boost financial security since chip-embedded cards are currently the most effective mechanism to prevent ATM skimming, she said.
As chip-integrated plastic cards are much less susceptible to skimming and other types of fraud, banks are urging customers to switch from magnetic-stripe cards even though chip-embedded cards can only be used with the ATMs of issuing banks at present.
more...
www.bangkokpost.com/business/news/937473/banks-to-issue-chip-cards-from-may-16
Move aims to enhance financial security
Published: 18/04/2016 at 08:55 AM
Newspaper section: Business
Mandatory chip-embedded card issuance for debit and ATM cards will come into effect on May 16 nationwide in a move aimed at enhancing financial security, says a senior Bank of Thailand official.
"Debit cards issued by commercial banks must be chip-embedded starting from May 16, [while] ATMs will support chip cards as well," said Nisarat Trairatvorakul, senior director of the payment systems policy department.
The main aim of the move is to boost financial security since chip-embedded cards are currently the most effective mechanism to prevent ATM skimming, she said.
As chip-integrated plastic cards are much less susceptible to skimming and other types of fraud, banks are urging customers to switch from magnetic-stripe cards even though chip-embedded cards can only be used with the ATMs of issuing banks at present.
more...
www.bangkokpost.com/business/news/937473/banks-to-issue-chip-cards-from-may-16
