As we NFC CARD discussed in previous installments , with the insecurity of traditional credit cards , so you can easily copy the data from the magnetic stripe , Banco Popular Dominicano will be the first financial institution in the country to offer its customers the new card debit chip technology, also known as smart card (smart card) , a plastic that reinforces the security of this payment against possible fraud , as well as providing other benefits for cardholders .
The People is in the final phase of the pilot project of this card , the public launch is scheduled for the coming weeks in order to replace the current debit cards to nearly 600, 000 cardholders. Thus, the People's Bank thus becomes one of the first banks in the Caribbean to introduce EMV chip technology ( Europay MasterCard Visa) , which will provide greater security for the cardholder .
According to combo cards Visa, in the markets in which it has extended the use of the chip, the card forgery frauds have been reduced to a minimum. Clone the chip is very difficult due to the encrypted data stored therein. When paying with a smart card in a store, a cryptogram unique information which protects data traveling through the payment system to its validation on a central server and authentication of the transaction is generated. In addition to providing greater security , this technology saves time and avoids inconvenience to customers, because they will not enter their PIN to pay in stores . This PIN will be required in cash withdrawals through ATMs. Being a debit card payments will automatically be charged to the customer's bank account .
By having contactless cards the support of Visa Debit Cards are accepted worldwide Popular in all businesses affiliated with this brand . Any cardholder can purchase Popular abroad , online or withdraw cash with this new plastic more quickly, conveniently and reliably. The network of local partners to Visa is the world's largest and is present in over 200 countries.
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