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 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 one touch of the card to the POS machine can be completed. deal. Issuing banks will set a threshold of payment value without customer authentication for small value transactions.
“The conversion of domestic chip cards is an indispensable trend of countries in the region and the world in the face of increasing high technology crime and focusing on markets that have not yet implemented the conversion of chip technology. Therefore, Vietnam Bank Card Association, banks, Napas and related units need to coordinate more closely and more actively to accelerate the conversion of domestic chip cards in accordance with the schedule issued by the State Bank. The conversion must ensure the card operation continues, is stable and safe; at the same time, it is necessary to ensure the legal rights of cardholders during the conversion process ”- the representative of NganLuong.vn State goods said.
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Banks “race” to convert magnetic cards into chip cards
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The risk of losing money in ATMs increases because of slow transfer of magnetic cards to chip cards
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Chip-mounted CCCD cards need to apply advanced technology, ensure security etc.
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