Currently there are many ways to pay with a POS card when we buy, shop, … But in Vietnam, there are 3 most common payment actions are
Coffee card
Insert the card with the chip
Add a card to Smartphone to pay (Currently only Samsung Pay)
I share a bit about the action of the card (for the magnetic card) and put the card with a Chip.
Between these two forms, the card is more convenient, you do not have to spend a lot of time waiting for the POS machine to load data, if you are using a credit card, you do not need to enter a PIN.
Payment by inserting a card with a Chip (Chip Card) can take from 6s to 12 seconds for some POS to read data, worse than I have encountered a few cases where shoppers are too hasty to forget the card in the POS machine, This is not the case when you swipe the card as you will directly hold the card in your hand and withdraw it.
However, in terms of security, Chip Cards will have advantages over Magnetic Cards (swipe cards). Why?
In the black strip to swipe the card there is a strip of code so when we pay it will sync directly with your bank account. This code is unencrypted, and cannot be changed, in other words, a fixed code
The unencrypted code will make it easier for thieves to steal your account, once information is available, the thief can get many other times.
This will not happen to the Chip Card, the Code data contained in the Chip Card is continuously encrypted with the bank account, when you pay, the thief can not steal that code anymore because it is constantly changing. .
Payment by Smartphone
The first is Samsung Pay, although in Vietnam there is only Samsung Pay but not yet able to use Apple Pay for iPhone users.
Payment via Samsung Pay just touch the phone to the POS device is complete, avoid the risk of information theft when you pay via hard card. Called the short-range NFC solution (Near-Field Communications), but not all POS machines have NFC, Samsung Pay has built-in Magnetic Secure Transmission (MST) technology for magnetic payment, available on all devices. Read the current card.
The security of Samsung Pay is similar to the encrypted code on the Chip Card, the code will constantly change after each payment to prevent hackers.
You will not need to carry a card, carry money, carry a wallet, to avoid other personal risks.
Pay with Timo or Momo, ZaloPay, …
These are also very convenient payment methods for you to avoid the risk of stealing your card information as mentioned above or the hassle of having to hold the card in your body.
Other News
Converting a magnetic card to a chip card does not affect customer transactions
Domestic chip cards fully meet the technical factors of safety and security according to EMV international standards, limiting risks of fraudulent frauds in card payment, ensuring payment security for customer. It is also an important platform for integrating and applying for non-cash payment services and services for services such as health, education, transportation, insurance and
Details
Increased utility to reduce cash transactions
Users can register to open a remote account, one-touch payment on mobile In the context of the outbreak of Covid-19, cash is considered to be one of the means that can infect the community with viruses. In fact, in Vietnam, electronic payment by bank cards (NH) is still not very popular, but intermediaries such as
Details
What is 3D security on bank cards – Safety – 2020
Many online shopping fans come across a 3D-Secure security system specifically developed for Visa international payment systems and then for MasterCard users. But what is 3D-Secure? How to connect it? What are its advantages and disadvantages? Is it possible to ignore it? Does he save from the intrigue of intruders? Where can I find 3D-Secure
Details
From 2020, there is no need for personal documents for medical examination and treatment with health insurance
For many years, identity card or other personal documents have been an integral part of medical examination and treatment records of health insurance. However, from next year, when medical examination and treatment, people have been able to ignore this type of paper. Medical examination and treatment procedures with current health insurance According to Article 15
Details
VIETCOMBANK LAUNCHED SECURE 3D SECURITY FOR INTERNATIONAL DEBIT CARD
In order to enhance the security when paying online by card, from October 1, 2019, Vietcombank officially implemented the 3D Secure security feature for international debit cards. So far, Vietcombank has implemented 3D Secure for all international credit and debit card products bearing the Visa / Mastercard / Amex / JCB brands issued by Vietcombank.
Details
Switch to chip card soon so you don’t lose money when using an ATM card
The conversion of all ATM cards by magnetic technology to chip technology with higher security to minimize the risk of losing money is being urgently deployed by commercial banks. Warning many still stolen data at ATM (skimming) Recently, despite repeated warnings, a series of cases of attaching equipment to steal card information at ATMs and
Details
