BII to use EMV on credit cards

The Jakarta Post ,  Jakarta   |  Wed, 06/06/2007 9:12 AM  |  Business

JAKARTA: To comply with a regulation that all credit cards issued should satisfy the Europay MasterCard Visa (EMV) standard by the end of 2009, Bank Internasional Indonesia (BII) announced Tuesday that it would incorporate EMV technology into its credit cards.

""We'll be issuing our EMV-compliant cards to our cardholders for free, starting this month,"" said consumer banking senior executive vice president Sanjay Kapoor.

Kapoor said that besides providing a high level of security compared with the traditional magnetic-stripe credit cards, the EMV chip cards also facilitated faster and easier transactions. And ""since the technology has been acknowledged internationally, it also allows BII's Mastercard holders to conduct transactions in many countries,"" he added.

BII is one of a number of credit-card issuers that are in the process of migrating from traditional magnetic-stripe credit cards to EMV cards. It has around 400,000 cardholders throughout the country. (JP/11)

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