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Showing posts with label GMA 7. Show all posts
Showing posts with label GMA 7. Show all posts

Tuesday, January 03, 2017

DOES YOUR ATM IN THE PHILIPPINES HAS EMV CHIP OR THOSE WITH MAGNETIC STRIP? YOU NEED TO KNOW.

EMV cards is said to be more secured compared to the magnetic strips that are widely used in ATM cards and some credit cards. ATM card scheming and card fraud has long been a problem for banks and cardholders. To get rid of it, the Bangko Sentral ng Pilipinas , in 2013, has issued a directive to the banks in the Philippines to replace the magnetic strips on the ATM and credit cards they are issuing with EMV (Europay, Mastercard, Visa) chips, which is  according to the Head of BSP Core IT Specialist Group, Melchor Plabasan. According to Mr. Plabasan, the EMV chip embedded in the card is more secured and is, according to him, virtually impossible to be copied or scheme. "Every time the chip is used in the (ATM) terminal, it automatically sends a dynamic code," Plabasan added. As of this report, the banks are in a huge backlog about the BSP deadline. Out of 8.5 million credit cards and 76 million ATM debit and prepaid cards that has to be replaced, they only made replacement on roughly 50%  of it. BSP said that the public can still use the old cards with magnetic strips and there is no need to panic about the January 1, 2017 deadline. However, most of the ATM machines or terminals are already been upgraded to accommodate cards bearing EMV chips in it and no longer accept cards with magnetic strips.   The BSP has issued a warning to the banks who are still not being able to replace the cards with EMV embedded cards, should any fraud or scheming arise and there had been an unauthorized transaction, the bank will be held accountable and pay the lost or damages if the client submits a proper report.    Meanwhile, the BSP is reminding all old notes holder that the  old bank notes has already been demonetized since Dec. 31, 2016. But the OFWs who are not in the country can still be exchanged until 2017 but they need to be  registered online.  Read the details here:    Some hearsay about demonetization and the new bank notes. They are absolutely false! These hearsay has been falsified by  BSP Regional Director Leonides Sumbi.                   Only the new design series paper bills issued since 1985 until 2010 will not be accepted by January 1, 2017.  As long as the paper bill is a new generation cureency series, the one that was released since December 2010, the signature of the previous or current President should not matter.   Although BSP has ordered banks to replace ATM cards with EMV chip, this doesn't mean that ATM cards with magnetic strip will not be accepted anymore starting January 1, 2017 although some ATM terminals might not accept it.



EMV cards is said to be more secured compared to the magnetic strips that are widely used in ATM cards and some credit cards. ATM card scheming and card fraud has long been a problem for banks and cardholders. To get rid of it, the Bangko Sentral ng Pilipinas , in 2013, has issued a directive to the banks in the Philippines to replace the magnetic strips on the ATM and credit cards they are issuing with EMV (Europay, Mastercard, Visa) chips, which is  according to the Head of BSP Core IT Specialist Group, Melchor Plabasan.
According to Mr. Plabasan, the EMV chip embedded in the card is more secured and is, according to him, virtually impossible to be copied or scheme.
"Every time the chip is used in the (ATM) terminal, it automatically sends a dynamic code," Plabasan added.
As of this report, the banks are in a huge backlog about the BSP deadline. Out of 8.5 million credit cards and 76 million ATM debit and prepaid cards that has to be replaced, they only made replacement on roughly 50%  of it.
BSP said that the public can still use the old cards with magnetic strips and there is no need to panic about the January 1, 2017 deadline. However, most of the ATM machines or terminals are already been upgraded to accommodate cards bearing EMV chips in it and no longer accept cards with magnetic strips.



The BSP has issued a warning to the banks who are still not being able to replace the cards with EMV embedded cards, should any fraud or scheming arise and there had been an unauthorized transaction, the bank will be held accountable and pay the lost or damages if the client submits a proper report.



Meanwhile, the BSP is reminding all old notes holder that the  old bank notes has already been demonetized since Dec. 31, 2016. But the OFWs who are not in the country can still be exchanged until 2017 but they need to be  registered online.




Some hearsay about demonetization and the new bank notes.
They are absolutely false!
These hearsay has been falsified by  BSP Regional Director Leonides Sumbi.

EMV cards is said to be more secured compared to the magnetic strips that are widely used in ATM cards and some credit cards. ATM card scheming and card fraud has long been a problem for banks and cardholders. To get rid of it, the Bangko Sentral ng Pilipinas , in 2013, has issued a directive to the banks in the Philippines to replace the magnetic strips on the ATM and credit cards they are issuing with EMV (Europay, Mastercard, Visa) chips, which is  according to the Head of BSP Core IT Specialist Group, Melchor Plabasan. According to Mr. Plabasan, the EMV chip embedded in the card is more secured and is, according to him, virtually impossible to be copied or scheme. "Every time the chip is used in the (ATM) terminal, it automatically sends a dynamic code," Plabasan added. As of this report, the banks are in a huge backlog about the BSP deadline. Out of 8.5 million credit cards and 76 million ATM debit and prepaid cards that has to be replaced, they only made replacement on roughly 50%  of it. BSP said that the public can still use the old cards with magnetic strips and there is no need to panic about the January 1, 2017 deadline. However, most of the ATM machines or terminals are already been upgraded to accommodate cards bearing EMV chips in it and no longer accept cards with magnetic strips.   The BSP has issued a warning to the banks who are still not being able to replace the cards with EMV embedded cards, should any fraud or scheming arise and there had been an unauthorized transaction, the bank will be held accountable and pay the lost or damages if the client submits a proper report.    Meanwhile, the BSP is reminding all old notes holder that the  old bank notes has already been demonetized since Dec. 31, 2016. But the OFWs who are not in the country can still be exchanged until 2017 but they need to be  registered online.  Read the details here:    Some hearsay about demonetization and the new bank notes. They are absolutely false! These hearsay has been falsified by  BSP Regional Director Leonides Sumbi.                   Only the new design series paper bills issued since 1985 until 2010 will not be accepted by January 1, 2017.  As long as the paper bill is a new generation cureency series, the one that was released since December 2010, the signature of the previous or current President should not matter.   Although BSP has ordered banks to replace ATM cards with EMV chip, this doesn't mean that ATM cards with magnetic strip will not be accepted anymore starting January 1, 2017 although some ATM terminals might not accept it.


EMV cards is said to be more secured compared to the magnetic strips that are widely used in ATM cards and some credit cards. ATM card scheming and card fraud has long been a problem for banks and cardholders. To get rid of it, the Bangko Sentral ng Pilipinas , in 2013, has issued a directive to the banks in the Philippines to replace the magnetic strips on the ATM and credit cards they are issuing with EMV (Europay, Mastercard, Visa) chips, which is  according to the Head of BSP Core IT Specialist Group, Melchor Plabasan. According to Mr. Plabasan, the EMV chip embedded in the card is more secured and is, according to him, virtually impossible to be copied or scheme. "Every time the chip is used in the (ATM) terminal, it automatically sends a dynamic code," Plabasan added. As of this report, the banks are in a huge backlog about the BSP deadline. Out of 8.5 million credit cards and 76 million ATM debit and prepaid cards that has to be replaced, they only made replacement on roughly 50%  of it. BSP said that the public can still use the old cards with magnetic strips and there is no need to panic about the January 1, 2017 deadline. However, most of the ATM machines or terminals are already been upgraded to accommodate cards bearing EMV chips in it and no longer accept cards with magnetic strips.   The BSP has issued a warning to the banks who are still not being able to replace the cards with EMV embedded cards, should any fraud or scheming arise and there had been an unauthorized transaction, the bank will be held accountable and pay the lost or damages if the client submits a proper report.    Meanwhile, the BSP is reminding all old notes holder that the  old bank notes has already been demonetized since Dec. 31, 2016. But the OFWs who are not in the country can still be exchanged until 2017 but they need to be  registered online.  Read the details here:    Some hearsay about demonetization and the new bank notes. They are absolutely false! These hearsay has been falsified by  BSP Regional Director Leonides Sumbi.                   Only the new design series paper bills issued since 1985 until 2010 will not be accepted by January 1, 2017.  As long as the paper bill is a new generation cureency series, the one that was released since December 2010, the signature of the previous or current President should not matter.   Although BSP has ordered banks to replace ATM cards with EMV chip, this doesn't mean that ATM cards with magnetic strip will not be accepted anymore starting January 1, 2017 although some ATM terminals might not accept it.


EMV cards is said to be more secured compared to the magnetic strips that are widely used in ATM cards and some credit cards. ATM card scheming and card fraud has long been a problem for banks and cardholders. To get rid of it, the Bangko Sentral ng Pilipinas , in 2013, has issued a directive to the banks in the Philippines to replace the magnetic strips on the ATM and credit cards they are issuing with EMV (Europay, Mastercard, Visa) chips, which is  according to the Head of BSP Core IT Specialist Group, Melchor Plabasan. According to Mr. Plabasan, the EMV chip embedded in the card is more secured and is, according to him, virtually impossible to be copied or scheme. "Every time the chip is used in the (ATM) terminal, it automatically sends a dynamic code," Plabasan added. As of this report, the banks are in a huge backlog about the BSP deadline. Out of 8.5 million credit cards and 76 million ATM debit and prepaid cards that has to be replaced, they only made replacement on roughly 50%  of it. BSP said that the public can still use the old cards with magnetic strips and there is no need to panic about the January 1, 2017 deadline. However, most of the ATM machines or terminals are already been upgraded to accommodate cards bearing EMV chips in it and no longer accept cards with magnetic strips.   The BSP has issued a warning to the banks who are still not being able to replace the cards with EMV embedded cards, should any fraud or scheming arise and there had been an unauthorized transaction, the bank will be held accountable and pay the lost or damages if the client submits a proper report.    Meanwhile, the BSP is reminding all old notes holder that the  old bank notes has already been demonetized since Dec. 31, 2016. But the OFWs who are not in the country can still be exchanged until 2017 but they need to be  registered online.  Read the details here:    Some hearsay about demonetization and the new bank notes. They are absolutely false! These hearsay has been falsified by  BSP Regional Director Leonides Sumbi.                   Only the new design series paper bills issued since 1985 until 2010 will not be accepted by January 1, 2017.  As long as the paper bill is a new generation cureency series, the one that was released since December 2010, the signature of the previous or current President should not matter.   Although BSP has ordered banks to replace ATM cards with EMV chip, this doesn't mean that ATM cards with magnetic strip will not be accepted anymore starting January 1, 2017 although some ATM terminals might not accept it.



EMV cards is said to be more secured compared to the magnetic strips that are widely used in ATM cards and some credit cards. ATM card scheming and card fraud has long been a problem for banks and cardholders. To get rid of it, the Bangko Sentral ng Pilipinas , in 2013, has issued a directive to the banks in the Philippines to replace the magnetic strips on the ATM and credit cards they are issuing with EMV (Europay, Mastercard, Visa) chips, which is  according to the Head of BSP Core IT Specialist Group, Melchor Plabasan. According to Mr. Plabasan, the EMV chip embedded in the card is more secured and is, according to him, virtually impossible to be copied or scheme. "Every time the chip is used in the (ATM) terminal, it automatically sends a dynamic code," Plabasan added. As of this report, the banks are in a huge backlog about the BSP deadline. Out of 8.5 million credit cards and 76 million ATM debit and prepaid cards that has to be replaced, they only made replacement on roughly 50%  of it. BSP said that the public can still use the old cards with magnetic strips and there is no need to panic about the January 1, 2017 deadline. However, most of the ATM machines or terminals are already been upgraded to accommodate cards bearing EMV chips in it and no longer accept cards with magnetic strips.   The BSP has issued a warning to the banks who are still not being able to replace the cards with EMV embedded cards, should any fraud or scheming arise and there had been an unauthorized transaction, the bank will be held accountable and pay the lost or damages if the client submits a proper report.    Meanwhile, the BSP is reminding all old notes holder that the  old bank notes has already been demonetized since Dec. 31, 2016. But the OFWs who are not in the country can still be exchanged until 2017 but they need to be  registered online.  Read the details here:    Some hearsay about demonetization and the new bank notes. They are absolutely false! These hearsay has been falsified by  BSP Regional Director Leonides Sumbi.                   Only the new design series paper bills issued since 1985 until 2010 will not be accepted by January 1, 2017.  As long as the paper bill is a new generation cureency series, the one that was released since December 2010, the signature of the previous or current President should not matter.   Although BSP has ordered banks to replace ATM cards with EMV chip, this doesn't mean that ATM cards with magnetic strip will not be accepted anymore starting January 1, 2017 although some ATM terminals might not accept it.



Only the new design series paper bills issued since 1985 until 2010 will not be accepted by January 1, 2017. 
As long as the paper bill is a new generation cureency series, the one that was released since December 2010, the signature of the previous or current President should not matter.


Although BSP has ordered banks to replace ATM cards with EMV chip, this doesn't mean that ATM cards with magnetic strip will not be accepted anymore starting January 1, 2017 although some ATM terminals might not accept it like the cases mentioned in the GMA 7 report.

©2016 THOUGHTSKOTO

Friday, November 13, 2015

#ThankYouForTheLove and #MaGMAhalanTayoNgayongPasko


Two biggest networks of the Philippines ABS-CBN and GMA7 joined on the same day releasing their station Christmas ID for all Filipinos for this Christmas Season.

 "As a sign of gratitude, the Kapamilya stars gave thanks to the inspiring Filipinos nationwide and it can be seen in this year’s ABS-CBN’s “Thank You for the Love” Christmas station ID.  With the theme song performed by the three biggest love teams of this generation James Reid and Nadine Lustre, Daniel Padilla and Kathryn Bernardo, and Enrique Gil and Liza Soberano together with Rock Royalty Bamboo and “The Voice Kids Season 2” grand champion Elha Nympha, the station ID highlights the perseverance, unconditional acts of love and generosity of the Filipinos."



#MaGMAhalanTayoNgayongPasko is the official hashtag of the GMA Network for their 2015 Christmas Station ID sang by Alden Richards, the other half of the phenominal AlDub love team. It was unique in a sense that all the news and public affairs, entertainment and talents of GMA joined in one TV shoot. 




Watch and tell us what you feel. Merry Christmas in advance to one and all!

©2015 THOUGHTSKOTO

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