PVcomBank ‘chipizes’ local ATM cards

PVcomBank has just converted all bank ATM cards made from magnetic tape technology to the most advanced EMV chip technology, helping customers to transact safely and enjoy many modern payment utilities.

Customers are assured when making financial transactions
Domestic card (ATM) is one of the most popular payment methods in Vietnam today. Cardholders can use the card to withdraw money and pay for goods and services directly at the merchants or on the internet. In addition to the benefits brought by the card, recently in the media also mentioned a lot of cases where cardholders lost money due to the customer’s card being stolen data (skimming) during the process. use. In the face of increasing high-tech crime, the issue of safety and confidentiality in card payment is paid special attention by banks as well as cardholders and chip cards with EMV technology is the solution to this problem. that math.
Domestic chip cards fully meet the technical factors of safety and security according to EMV international standards, limiting risks of fraud, forgery in card payment, ensuring security and bar safety. payment for customers, as an important platform to integrate and apply services as well as non-cash payment facilities for fields such as health care, education, transportation, insurance, public services …
The use of domestic chip card payment with contactless technology for small value transactions will bring a new experience to customers when just a touch of the card to the POS machine is complete. deal. Issuing banks will set a threshold of payment value without customer authentication for small value transactions.
Grasping this trend, PVcomBank has officially released contactless chip card of VCCS standard, helping to increase many features and utilities for customers, making an important contribution to promoting cashless payment, as a background. Important platform for integration, applications for non-cash payment services and facilities in other industries.
VCCS standard chip card – The inevitable trend of the 4.0 era
Currently, there are 48 local card issuers in Vietnam with about 76 million cards, more than 261,000 POS and 18,600 ATMs. In particular, most POS has followed the EMV standard, so deploying local chip cards on devices that accept cards will not be too complicated. According to the roadmap, at the latest on December 31, 2012, all ATM cards in the market will be converted to chip cards according to VCCS standard.
Representative of PVcomBank said: “Domestic chip cards are an indispensable trend of the banking and finance industry in Vietnam and in the world today, PVcomBank is not out of this race, with many efforts to promote development and sue. technology applied to chip cards issued to customers. The Bank is committed to ensuring that magnetic card operations remain transparent and safe throughout the transition period, eventually completely replacing magnetic cards in transactions ”.
Also according to the representative of PVcomBank, the entire system and staff of PVcomBank are ready with a clear deployment roadmap with infrastructure, experience in customer service in this campaign, to bring talented solutions. Main and most impressive service experience.