According to the policy of the State Bank and the regulations of the International Card Organization, to increase the safety and security of transactions and optimize the utility of card products, Vietcombank encourages Vietcombank cardholders to convert magnetic technology cards to chip technology cards.
When using a magnetic card to withdraw money at ATMs or swipe payment cards at POS machines, customer information is stored permanently on the magnetic strip on the back of the card and can easily be stolen. Chip cards have improved security features, customer information is stored on the chip on the front of the card. With Vietcombank chip cards, each customer transaction is provided with a different and non-duplicated transaction code, helping to better secure information.
Vietcombank requires customers to convert magnetic debit cards to chip technology.
Vietconbank chip cards integrate Contactless technology, so just lightly touch the card to the card swiping machine, through NFC, the POS will receive information, helping customers make transactions quickly and easily. Customers do not need to give the card to the payment staff and skip the PIN entry step, thereby saving time and limiting errors due to old cards or not remembering the PIN.
In addition, chip cards use microchips to store customer data and information, effectively overcoming card counterfeiting and information theft.
The process of converting magnetic cards to chip cards is quite costly and time-consuming. However, Vietcombank supports customers to convert completely free of charge and provides a quick and convenient online conversion channel on VCB DigiBank.
Previously, on December 5, 2022, Vietcombank deployed HomePopup requiring customers to use domestic debit cards from the VCB Digibank application.
From November 15, 2023, Vietcombank will continue to require customers using international debit cards from and have not converted to chip technology cards to make the conversion on VCB Digibank. The notification will be displayed for customers to confirm before making other transactions on the VCB Digibank application.
Bao Anh
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