Why should you upgrade to EMV cards?
EMV is one of those acronyms that you will encounter when visiting banks or ATMs. All banks in the country have started issuing EMV cards to all clients. But what is EMV really and how will customers benefit from it?
EMV stands for Europay, Mastercard, and Visa, the three companies that originally created the standard. It is the global standard for card payments used in most countries around the world. EMV cards use a chip card technology where an embedded microchip encodes the data of a purchase or transaction in a safe mode.
Every time an EMV-enabled card is inserted into an EMV-enabled terminal (like an ATM or point-of-sale machine), a unique and dynamic security code is generated, making it extremely difficult for anyone to reuse your information on the card. In other words, EMV cards provide better protection against counterfeit fraud, skimming, and other attacks related to magnetic stripe (magstripe) cards.
As part of its digitalization journey, BPI is one of those banks that have upgraded their clients to EMV cards. So what are the other benefits of BPI’s EMV Debit Mastercard? Check them out below:
1. DITCH THE LINES
You can actually skip the ATM lines, go straight to the cashier and pay using your BPI EMV Debit Mastercard. BPI EMV Debit Mastercard is accepted in Bancnet and EPS POS terminals of many stores nationwide.
2. ALL ACCESS
With BPI’s EMV Debit Mastercard, you can have full access to your other deposit accounts at BPI ATMs with just one card, through a new feature in BPI’s EMV cards called Account Linkage, which allows you to access up to nine linked deposit accounts and process transactions in any BPI ATM. You can also access your account via mobile and online banking.
3. INTERNATIONAL DEBIT ACCEPTANCE
You can withdraw abroad with your BPI EMV Debit Mastercard as it has access to Mastercard-affiliated ATMs. You can also withdraw cash in the currency of the country you’re in, and because international access is already on by default, you don’t need to call the branch or 89-100 to activate international access.
Soon, BPI EMV cards will be accepted in Mastercard affiliated merchants here and abroad and will include new features, such as Tap to Pay, where you just tap your card for purchases below Php2,000. No need to key in your PIN or sign. And there’s eCommerce support so you can pay for online purchases and services, wherever Mastercard is accepted.
And that sums up the benefits of BPI EMV Debit Mastercard.
For more information about BPI EMV cards, visit the links below: