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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.

 Read More:




China's plans to hire Filipino household workers to their five major cities including Beijing and Shanghai, was reported at a local newspaper Philippine Star. it could be a big break for the household workers who are trying their luck in finding greener pastures by working overseas China is offering up to P100,000 a month, or about HK$15,000. The existing minimum allowable wage for a foreign domestic helper in Hong Kong is around HK$4,310 per month. Dominador Say, undersecretary of the Department of Labor and Employment (DOLE), said that talks are underway with Chinese embassy officials on this possibility. China’s five major cities, including Beijing, Shanghai and Xiamen will soon be the haven for Filipino domestic workers who are seeking higher income. DOLE is expected to have further negotiations on the launch date with a delegation from China in September. according to Usec Say, Chinese employers favor Filipino domestic workers for their English proficiency, which allows them to teach their employers’ children. Chinese embassy officials also mentioned that improving ties with the leadership of President Rodrigo Duterte has paved the way for the new policy to materialize. There is presently a strict work visa system for foreign workers who want to enter mainland China. But according Usec. Say, China is serious about the proposal. Philippine Labor Secretary Silvestre Bello said an estimated 200,000 Filipino domestic helpers are presently working illegally in China. With a great demand for skilled domestic workers, Filipino OFWs would have an option to apply using legal processes on their desired higher salary for their sector. Source: ejinsight.com, PhilStar Read More: The effectivity of the Nationwide Smoking Ban or E.O. 26 (Providing for the Establishment of Smoke-free Environment in Public and Enclosed Places) started today, July 23, but only a few seems to be aware of it. President Rodrigo Duterte signed the Executive Order 26 with the citizens health in mind. Presidential Spokesperson Ernesto Abella said the executive order is a milestone where the government prioritize public health protection. The smoking ban includes smoking in places such as schools, universities and colleges, playgrounds, restaurants and food preparation areas, basketball courts, stairwells, health centers, clinics, public and private hospitals, hotels, malls, elevators, taxis, buses, public utility jeepneys, ships, tricycles, trains, airplanes, and gas stations which are prone to combustion. The Department of Health urges all the establishments to post "no smoking" signs in compliance with the new executive order. They also appeal to the public to report any violation against the nationwide ban on smoking in public places. Read More: ©2017 THOUGHTSKOTO www.jbsolis.com SEARCH JBSOLIS, TYPE KEYWORDS and TITLE OF ARTICLE at the box below Smoking is only allowed in designated smoking areas to be provided by the owner of the establishment. Smoking in private vehicles parked in public areas is also prohibited. What Do You Need To know About The Nationwide Smoking Ban Violators will be fined P500 to P10,000, depending on their number of offenses, while owners of establishments caught violating the EO will face a fine of P5,000 or imprisonment of not more than 30 days. The Department of Health urges all the establishments to post "no smoking" signs in compliance with the new executive order. They also appeal to the public to report any violation against the nationwide ban on smoking in public places. ©2017 THOUGHTSKOTO


Dominador Say, undersecretary of the Department of Labor and Employment (DOLE), said that talks are underway with Chinese embassy officials on this possibility. China’s five major cities, including Beijing, Shanghai and Xiamen will soon be the destination for Filipino domestic workers who are seeking higher income.

©2016 THOUGHTSKOTO
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