94% of payment cardholders already using PIN

PETALING JAYA: The vast majority (94%) of payment cardholders are already using PIN, with only 6% of PIN-eligible card transactions reported to be still using signature verification as at May 31, 2017, said Bank Negara Malaysia (BNM).
The central bank said close to 23 million payment cards in Malaysia have been replaced with PIN-enabled cards to date.
All payment card terminals deployed in Malaysia, including outdoor payment terminals at petrol stations, have also been upgraded to support the use of PIN.
As announced by BNM earlier, with effect from July 1, 2017, all local payment card transactions will be verified using PIN. Signature verification will no longer be accepted from that date.