{"id":119767,"date":"2017-09-27T02:31:34","date_gmt":"2017-09-27T06:31:34","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=119767"},"modified":"2017-09-27T02:31:34","modified_gmt":"2017-09-27T06:31:34","slug":"bdo-urges-clients-to-get-emv-chip-enabled-atm-cards","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/09\/27\/bdo-urges-clients-to-get-emv-chip-enabled-atm-cards\/","title":{"rendered":"BDO urges clients to get EMV chip-enabled ATM cards"},"content":{"rendered":"
\"<\/a>
BSP earlier set January 1, 2017 as the deadline for banks to fully migrate to EMV technology but most banks failed to meet it.(Photo: BDO Unibank\/ Facebook)<\/a><\/figcaption><\/figure>\n

MANILA<\/strong>\u2014 An official of Sy-led BDO Unibank Inc. is urging the bank\u2019s clients who have not availed of the EMV chip-enabled automated teller machine (ATM) card to get their new cards.<\/p>\n

In a statement, BDO executive vice president and transaction banking head Edwin G. Reyes said: \u201cmaking the shift to the EMV-chip ATM debit card is one way to protect the clients from electronic fraud.\u201d<\/p>\n

\u201cIt has enhanced security features, which include among others, encryption locks and keys to authenticate the card and the cardholder’s transaction, protecting card data from being compromised,\u201d he said.<\/p>\n

\u201cWe hope our customers would embrace this significant improvement being implemented by the entire banking industry,\u201d he added.<\/p>\n

Shift on the use of Europay, Mastercard, and Visa-powered ATM cards is in line with the Bangko Sentral ng Pilipinas’ (BSP) Circular No. 859, which is aimed at ensuring safe transactions in the country.<\/p>\n

BSP earlier set January 1, 2017 as the deadline for banks to fully migrate to EMV technology but most banks failed to meet it.<\/p>\n

Thus, the central bank’s policy-making Monetary Board (MB) has set a “hard deadline” of June 30, 2018 to fully comply with the requirement and banks that fail to meet the deadline will be penalized.<\/p>\n

The statement said BDO started the shift to the EMV-technology in the third quarter of 2016, free of charge to its clients.<\/p>\n

\u201cHowever, to date, there is still a low figure of card pick-ups from the branches, which means a large number of clients are still using the magnetic stripe-only ATM debit cards,\u201d it said.<\/p>\n

\u201cFor corporate or payroll clients, BDO will make the EMV-chip cards available at their respective HR offices by December 31, 2017,\u201d it said.<\/p>\n

BDO said its almost 4,000 ATMs nationwide have been made EMV-certified.<\/p>\n

\u201cBDO was the first bank in the industry to fully retrofit its ATM network to allow EMV-chip card transactions,\u201d it added.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u2014 An official of Sy-led BDO Unibank Inc. is urging the bank\u2019s clients who have not availed of the EMV …<\/p>\n","protected":false},"author":33,"featured_media":97532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,95],"tags":[24968,15972,24969],"class_list":["post-119767","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-news-ph","tag-automated-teller-machine-atm-card","tag-bdo-unibank-inc","tag-urges-clients-to-get-emv-chip-enabled-atm-cards","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/119767","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=119767"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/119767\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/97532"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=119767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=119767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=119767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}