Post by mangomoney on May 5, 2016 13:20:08 GMT 7
Chip bank cards the rule in 2019
Move meant to prevent ATM fraud
Published: 5/05/2016 at 04:00 AM
Newspaper section: Business
Some 60 million magnetic-stripe ATM and debit cards issued by local commercial banks and circulating in the market will be upgraded to chip-embedded cards by the end of 2019, says a senior central bank official.
An estimated 90% of ATMs nationwide will support chip-embedded cards by May 16, but the machines still support magnetic-stripe cards for those who hold only that type, said Tongurai Limpiti, a deputy governor of the Bank of Thailand.
Thailand will emerge as the third county in Asean to have mandatory chip-embedded ATM and debit cards following Malaysia in 2004 and Singapore in 2010.
Mandatory chip-embedded card issuance for debit and ATM cards will come into effect on May 16, according to the central bank's schedule, in a bid to prevent card fraud such as ATM skimming.
more...
www.bangkokpost.com/news/general/959897/chip-bank-cards-the-rule-in-2019
Move meant to prevent ATM fraud
Published: 5/05/2016 at 04:00 AM
Newspaper section: Business
Some 60 million magnetic-stripe ATM and debit cards issued by local commercial banks and circulating in the market will be upgraded to chip-embedded cards by the end of 2019, says a senior central bank official.
An estimated 90% of ATMs nationwide will support chip-embedded cards by May 16, but the machines still support magnetic-stripe cards for those who hold only that type, said Tongurai Limpiti, a deputy governor of the Bank of Thailand.
Thailand will emerge as the third county in Asean to have mandatory chip-embedded ATM and debit cards following Malaysia in 2004 and Singapore in 2010.
Mandatory chip-embedded card issuance for debit and ATM cards will come into effect on May 16, according to the central bank's schedule, in a bid to prevent card fraud such as ATM skimming.
more...
www.bangkokpost.com/news/general/959897/chip-bank-cards-the-rule-in-2019
