Replace Your old Magnetic Stripe Debit & Credit Cards with EMV chip less Cards before 31 December 2018 By RBI
Banks are sending messages to Each account holder asking them to EMV chip-based debit and credit cards are more Their cloning is now a significant challenge to those responsible for safe monetary transaction. The old magnetic stripe-only debit and credit cards are to be replaced by EMV chip-based ones by 31 December 2018.
These cards use higher standards of data encryption and have improved storage technology. The client related data in an EMV card is stored in lively format. This shift in technology makes card cloning difficult.
The Present debit and The RBI directive is appropriate to not Replacement of To take this kind of pain and replace the debit card and credit cards?
Upgrade their debit and charge cards. You too must have one message. But there are chances that you might have ignored the message carrying it for a spam. Examine the message once more, it's not a spam. This is a helpful message from the bank you have deposited your money with. Now, you have to replace your existing credit and debit cards with new ones, if you have not already done.
Still, online trade will continue to Debit and credit card may require just a little change in custom for finishing trade especially via a point of sale (PoS) machine. Transaction by means of a PoS device can be achieved utilizing the magnetic stripe cards merely by swiping it transaction using new chip-based PIN cards may ask for a PIN also. This offers another amount of security to the user.
Banks have to follow the The new However, why do you need Pose risk if you share card-related sensitive data with an Banks bear the cost for new cards. The EMV chip-based credit and debit cards are in use since January 2016. The RBI had made it mandatory for banks to issue only EMV chip-based cards for new customers opening new accounts or applying for new debit or charge cards following 31 January 2016.
Only all domestic but also the global credit and debit cards. The existing magnetic stripe-only cards will not be valid beyond December 31-deadline.
Unknown individual or someone who you do not anticipate.
Directions of the RBI
This directive in the RBI was necessitated in order protect you from a unscrupulous online predator. Your money must be secured with the banks. It's their duty. Debit and credit card piracy has turned into a significant issue, as has been found in online banking fraud cases. The new chip-based cards are prescribed to keep your money and trade safe.
These cards use higher standards of data encryption and have improved storage technology. The client related data in an EMV card is stored in lively format. This shift in technology makes card cloning difficult.
The Present debit and The RBI directive is appropriate to not Replacement of To take this kind of pain and replace the debit card and credit cards?
Upgrade their debit and charge cards. You too must have one message. But there are chances that you might have ignored the message carrying it for a spam. Examine the message once more, it's not a spam. This is a helpful message from the bank you have deposited your money with. Now, you have to replace your existing credit and debit cards with new ones, if you have not already done.
Still, online trade will continue to Debit and credit card may require just a little change in custom for finishing trade especially via a point of sale (PoS) machine. Transaction by means of a PoS device can be achieved utilizing the magnetic stripe cards merely by swiping it transaction using new chip-based PIN cards may ask for a PIN also. This offers another amount of security to the user.
Banks have to follow the The new However, why do you need Pose risk if you share card-related sensitive data with an Banks bear the cost for new cards. The EMV chip-based credit and debit cards are in use since January 2016. The RBI had made it mandatory for banks to issue only EMV chip-based cards for new customers opening new accounts or applying for new debit or charge cards following 31 January 2016.
Only all domestic but also the global credit and debit cards. The existing magnetic stripe-only cards will not be valid beyond December 31-deadline.
Unknown individual or someone who you do not anticipate.
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