The Kenya Bankers Association last week said it will not extend its March 31 deadline to migrate all payment cards issued in the country to the EMV smart card platform.
The Kenya Bankers Association last week said it will not extend its March 31 deadline to migrate all payment cards issued in the country to the EMV smart card platform.
“The consumer should not be penalized for any operational issues that may come up within the system of issuing the cards, and so we will determine the liability shift so that banks become liable for anybody who loses money out of using a card that is not compliant, as the responsibility falls on the bank,” Kenya Bankers Association CEO Habil Olaka told a local publication.
Current magnetic stripe card technology has been tied to the high level of fraud among Kenya’s financial sector.
As the U.S. goes about its own EMV migration path, MPD CEO Karen Webster offers up her own opinion on the smart card standard.
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