TPBank soon “finished” converting domestic chip cards

TPBank is the first bank to officially complete the system conversion, allowing the issuance and acceptance of local chip cards in Vietnam.

According to TPBank, the entire ATM system and mPOS plus of this bank have completed the conversion to accept domestic chip cards and contactless chip cards for customers, two years earlier than the SBV’s regulation as of December 31, 2020.

Specifically, TPBank will officially issue all new customers for ATM chip cards from May 15, 2019, right after Napas issues chip certificates according to VCCS standards (accepted by the State Bank) for billet suppliers. card.

As such, TPBank is the first bank to officially complete the system conversion, allowing the issuance and acceptance of local chip cards in Vietnam. This makes customers’ domestic card transactions more secure, eliminating the risk of copying card data (skimming) to steal money in the account. Skimming can only occur with ATM cards – currently widely used in Vietnam.

Completing this conversion, TPBank’s system still accepts ATM cards and ATM chip cards of TPBank and Vietnamese banks simultaneously. It is known that in 2019, TPBank is also expected to meet over 30% of the conversion needs of customers using old cards to ATM chip cards.

Previously, TPBank successfully issued an ATM chip according to the pilot Napas standard from January 2018, being the first bank in the country to successfully issue a domestic chip card combining contactless.

For card products, TPBank is currently the only bank that can issue ATM cards immediately with LiveBank, and issue Visa Debit cards that can be used to pay online immediately with the TPBank MyGo app. In addition, TPBank is also the first bank to apply electronic PIN to customers since 2017.

TPBank card accounts are also easily integrated with Savy smart savings application, QR Code – QuickPay payment application, while TPBank’s highly mobile payment card reader mPOS is also very popular. market reception.