According to HumanIpo, banks in Kenya will be making an EMV switch for debit and credit cards by March 31, 2014. Magnetic stripe cards will be switched over to Visa and MasterCard EMV Chip & PIN solutions. The initiative aims to protect bank customers from financial fraud and provide them with a more secure banking experience.
“Security is always a key concern for the banking industry and we have the collective responsibility to safeguard our customers’ deposits,” explained Habel Olak, Kenya Bankers Association CEO said to HumanIpo. “The EMV chip and pin card offers an integrated, more secure option for card users in the country, and we hope the region too can follow suit to embrace this technology.”
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