The director smart cards of the Supervisory Authority Financial System (Safi)Lenny Valdivia,said yesterday that no user of magnetic cards,whether credit or debit card is required to pay an additional cost for the migration of these to the microchip,as a safety measure.
"The renewal of this migration process ( magnetic microchip cards)can entail no cost to the owner.It is an expense that assume financial institutions for provision of Safi."
Speaking to Radio Fides,Valdivia said that from Thursday 1 to February 28,2013,financial institutions must replace credit cards by microchip.Completed the process, from 1 March to 31 December 2013,the methodology should be repeated with debit cards.
However,announced that it will be a process that can take up to 2014 even as it must be considered that the country has 92,187 credit card holders,and 2,275,548 with debit cards.Private.Last week the president of the Association of Private Banks of Bolivia ( Asoban),Kurt Koenigsfest explained that system operators will face financial intermediation process to implement technological adjustment system microchip.In addition, he announced that the Users are recommended to pay an extraordinary amount for the cost of this technology.contactless cards
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