UCPB Savings Bank recently got certifications from BancNet for the implementation of the EuropayMastercard Visa (EMV) cards. Among Twenty five (25) outsourced banks under BancNet, UCPB Savings Bank is the first to be certified as fully EMV-ready. In order to be EMV-compliant, the bank underwent a series of evaluations conducted by BancNet for 3 different categories which started on the 3rd quarter of 2016.
The series of certifications include CCPV or chip card personalization verification which tested the EMV card for data verification and encryption. The EMV Acquirer Host System certification guarantees that all inward transactions of UCPB Savings Bank thru EMV ATMs are compliant-ready. The EMV Issuer Host System Certification on the other hand guarantees that all outbound EMV transactions made by UCPB Savings Bank thru EMV ATMS to other bank’s ATM are fully system functional.
The new ATM and eCash Card EMV cards are equipped with microprocessor chip for better security features in compliant to the Bangko Sentral ng Pilipinas (BSP) Circular 808-13 on the new international standards on credit and debit transactions. With the new EMV chip the following features can now be enjoyed:
Cashless purchases. Enjoy a cashless payment transactions on any POS-enabled business establishments. No need to withdraw, just swipe and go!
Added security against fraud. Unlike the regular magnetic stripe cards, the new EMV chip is uniquely encoded which cannot be cloned nor duplicated for better security.
Secured online shopping. The EMV cards have a unique online data encryption which allow secured payments to protect cardholders and merchants.
Bigger data storage. The new EMV microprocessor chip holds bigger information than regular magnetic stripe cards; now, it is able to function for longer periods of time
It is time to upgrade to a new, better and more secured ATM and eCash Card. Visit your maintaining branch and have your cards upgraded for FREE.
