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Showing posts with label EMV technology. Show all posts
Showing posts with label EMV technology. Show all posts

Friday, May 8, 2015

Zip Zap Zoom – Only EMV chip and pin based cards from September 01, 2015


          Reserve Bank of India has announced advised all Scheduled Commercial Banks including RRBs/Co-operative Banks / State Co-operative Banks/Central Co-operative Banks/ Authorised Card Payment Networks to adopt enhanced security measures for all new cards issued – debit and credit, domestic and international.

          The guidelines come into effect from September 01, 2015. This means the respective players have sufficient time to enhance their infrastructure levels.

          The relevant RBI Notification number is RBI/2014-15/589 DPSS (CO) PD No.2112/02.14.003/2014-15

          Highlights of the Notification are:

Subject Line: Security and Risk Mitigation Measures for Card Present and Electronic Payment Transactions

           The Reserve Bank has adopted a phased manner of implementation of security and risk mitigation measures in card transactions as evident from the instructions issued from time to time. The acceptance infrastructure is getting geared to accept EMV chip and pin cards.

However, in case of card issuance, while some banks have already moved to EMV chip and pin cards issuance, a large number of banks continue to issue Magnetic stripe cards.

Thus, given the level of readiness of the card acceptance infrastructure at point of sale and also the implementation of PIN@POS for debit cards, the time is appropriate to move further along the path to migrate away from magnetic stripe only cards to chip and pin cards.

 Accordingly, banks are advised that with effect from September 01, 2015 all new cards issued – debit and credit, domestic and international – by banks shall be EMV chip and pin based cards.


 The migration plan for existing magnetic stripe only cards will be framed in consultation with stakeholders and timeline for the same will be advised in due course.

Wednesday, March 7, 2012

Discover Cards and Diner Club International Cards part of India's RuPay Network.




Today, i.e March 07, 2012 a new chapter in the Indian Payments has begun.

A strategic alliance between Discover Financial Services (DFS) and National Payments Corporation of India (NPCI), has been announced.

The top 11 points about this strategic alliance.

  1. At present Diners Club International (DCI) cards are accepted at CitiBank ATM's.

  1. Discover cards and Diners Club International (DCI) cards will be accepted at NPCI ATMs and point-of-sale terminals for purchases in India.

  1. RuPay (the national card payment network in India) cardholders will be able to utilize the Discover, Diners Club International and PULSE networks for international purchases and cash access outside of India.

  1. The companies are also working to implement D-PAS, Discover’s EMV technology, to offer chip-based cards to RuPay cardmembers.

  1. The arrangement will be implemented in 3 phases. Phase 1) DFS and DCI cards will be accepted at RuPay ATMs in India. Phase 02 ) DFS and DCI cards will be accepted at RuPay POS locations. Phase 03) Acceptance of RuPay Global Cards on Discover’s global payment network outside of India.

  1. The final aim of the network-to-network alliance between DFS and NPCI is the issuance of RuPay Global cards, once the domestic RuPay cards being launched later this month stabilize.

  1. Discover, like American Express Co. (AXP), typically issues its own credit cards and operates a payments network that processes transactions.

  1. Visa and MasterCard, only process transactions. The higher transaction volume helps boost their revenue.

  1. Discover has a smaller acceptance footprint internationally than does American Express, Visa and MasterCard, though it has been working to change that.

  1. At present there are 120 million+ DFS and Diners Club cards worldwide and these card holders can enjoy the wide reach of RuPay network in India, of over 90,000 ATM's.

  1. In the near future, DFS and DCI cards would also be accepted at over six lakh POS terminals that are linked to the NFS.


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