PSBank to phase out non-EMV cards by Sept.1, 2017

Philippine Savings Bank (PSBank), the thrift arm bank of the Metrobank Group, is set to deactivate all non-EMV PSBank cards by Sept. 1, citing the need to provide clients with more secured products and services.

The planned phaseout of the non-EMV automated teller machine (ATM), debit and prepaid cards by September is ahead of the June 2018 ultimatum set by the Bangko Sentral ng Pilipinas for all banks to migrate to EMV chip-enabled cards.

PSBank’s EMV (Europay, Mastercard and Visa) chip-enabled cards have enhanced features that verify transactions made on card which limit the cases of care-present fraud incidents and identity theft. This replaces non-EMV PSBank cards that are…

Keep on reading: PSBank to phase out non-EMV cards by Sept.1, 2017

Go to Source
Author:

Powered by WPeMatico

Related posts:

Comments

comments