Stop issuing tape ATM cards

On March 31, credit institutions will terminate the issuance of magnetic ATM cards according to the roadmap of converting bank cards to domestic chip cards. According to the roadmap specified in Circular 22/2020 of the State Bank amending Circular 19/2016 regulating banking card operations, for card issuers from March 31st, stop issuing magnetic tape ATM cards and instead complying with the issuance of cards with BIN issued by the State Bank must comply with the local chip card standards. Previous regulations to December 31, 2020 are at least 60% of chip cards and December 31, 2021 are 100% of chip cards. For card payment organizations, as of December 31, 2021, instead of December 31, 2020, 100% of ATMs and card acceptance devices at point of sale operating in Vietnam of card payment organizations comply with the basic standards of domestic chip cards. The basic standards for domestic chip cards are the basic standard TCCS 01: 2018 / NHNNVN on technical requirements for domestic payment cards with chip technology in Vietnam and TCCS 02: 2018 / NHNNVN on requirements Technical requirements for domestic payment card chip contactless technology in Vietnam announced by the Governor of the State Bank in accordance with Decision 1927 / QD-NHNN dated October 5, 2018. (Clause 26, Article 3 of Circular 19/2016 / TT-NHNN) According to the State Bank, the number of cards issued by credit institutions by the end of 2020 is 94 million domestic cards and 17 million international cards. Source: https://thanhnien.vn/tai-chinh-kinh-doanh/dung-phat-hanh-the-atm-bang-tu-1361915.html