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Columns : Letters to The Editor Last Updated: Feb 13, 2017 - 1:45:37 AM


Pam Burnside: Credit Card Queries
By Pamela Burnside
Sep 18, 2015 - 11:44:01 AM

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Dear Editor,

I would like to know when the commercial banks in The Bahamas will be informing the general public about the EMV (Europay, Mastercard, Visa) chip ‘smart’ credit cards. This new technology, which appears as a gold coloured square on the front of the credit card, embeds a special chip inside the card for greater security, and apparently, as of October 1, 2015 worldwide, all cards with the EMV feature will transfer liability, in the event of fraud, to the banks. A few days ago the Canadian bank that I deal with for merchant services, sent out an email notice stating that ‘soon’ merchants will be able to accept and process the EMV cards.

A few weeks ago, my bank recalled credit cards stating that there had been a ‘possible security breach’ but refused to give any detailed information on what exactly happened. We were advised that new cards would be issued and meanwhile credit card use was suspended. Strangely enough, another Canadian bank also recalled customer credit cards and used this same explanation. What is going on? Should this be cause for greater concern?

During this latest recall and reissue our credit cards were not provided with the new EMV feature because the gold coloured square is not on the front, therefore this means that the cards will have to be recalled and reissued yet again, when and if we are granted access to obtaining the EMV card!

So my questions are: When exactly will the banks inform its customers, personal and merchant, about these facts and standards and provide us with the new EMV cards and terminals? Will we incur greater costs for same? What will be the repercussions for the use of credit cards with the ‘old’ megstripe? Will our ‘old’ cards be denied when we try to use them overseas, causing unwarranted inconvenience, embarrassment and delays?

Inquiring minds would like to know!


Yours sincerely,
Pam Burnside



Disclaimer: The views expressed here are solely those of the author in his/her private capacity and do not in any way represent the views of TheBahamasWeekly.com




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