Singapore’s migration to chip based technology adopting the EMV standard unlikely to pose technical challenge to banks, offering benefits in reducing fraud levels and supporting plans for new debit based payment programs.

Date: May 03, 2012
Author: Carol Wheatcroft
Categories: Cards, Channels, Retail Banking, Technology & Operations
Keywords: EMV Technology, Debit Cards, Fraud, Gemalto, Association of Banks in Singapore

Following a global trend, Singapore is the latest country in the Asia Pacific region to announce that its banks will migrate ATM and debit cards to chip-based technology adopting the Europay, Mastercard and VISA (EMV) standard by 2014. This industry-led initiative orchestrated by the Association of ...