Push Admin

PSBank to deactivate non-chip ATM cards on Sept. 1

Article (news)

ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2017/news/07/11/psbank.jpg?ext=.jpg"/></figure></div>MANILA - Philippine Savings Bank said Tuesday all cards not equipped with EMV or chip technology would be deactivated on September 1.The bank said the has issued EMV cards as early as January and all its 600 ATMs are compatible with the new standard.The Bangko Sentral ng Pilipinas has given banks until June 2018 to replace magnetic stripe cards with chip-based cards to prevent fraud.Last month, <a href="http://news.abs-cbn.com/business/06/21/17/7-bdo-atms-compromised-in-skimming-official">BDO Unibank</a> said 7 of its ATMs were compromised in a &quot;skimming&quot; attack wherein account information is stolen from the card&#x27;s magnetic stripe.

Philippine Savings Bank said Tuesday all cards not equipped with EMV or chip technology would be deactivated on September 1.

Philippine Savings Bank said Tuesday all cards not equipped with EMV or chip technology would be deactivated on September 1.