Public Bank Malaysia has become the first bank in Southeast Asia to accept MasterCard EMV-chip card transactions.
The terminals are equipped to read either magstripe or chip-based MasterCard cards, including debit and credit cards.
Director of Public Bank Card Services Chong You Lin said the latest development forms part of the bank’s EMV project.
“This move is crucial in completing the EMV-loop as the industry emphasis has, up to now, been focused on issuance of smart cards and not the acquiring of EMV transactions,” Lin said.
Public Bank is reportedly preparing to be one of the first EMV issuers and acquirers by launching EMV-chip smart cards in 2003.
