Migration to PIN-based payment cards at 45% now

KUALA LUMPUR: About 45% of the payments cards in Malaysia have been migrated to PIN-based payments cards as at end-September, said Bank Negara Malaysia payment systems policy department director Tan Nyat Chuan.
He said there are a total of 25 million cards to be replaced, which constitutes 7.6 million credit cards and 17.8 million debit cards.
Of this, 71% of credit cards have been migrated to PIN-enabled cards, while 34% of debit cards have been migrated.
About 38% of point-of-sale terminals have been upgraded to enable PIN transactions.
The public is urged to replace their signature-based payment cards with PIN-based payment cards by Jan 1, 2017.