HDFC is the latest bank to foray into the EMV compliant sector
with the launch of 500,000 credit cards to its premium-segment
customers.
India’s second largest private sector bank
will launch 500,000 EMV-compliant cards
Go deeper with GlobalData
to its premium segment in the initial phase of
the roll-out as the bank migrates from standard magnetic stripe
formats to chip-based smart cards.
The bank said the move to EMV standards will
boost the security of the bank’s electronic payment system, with
plans to launch EMV smart debit cards later in the year.
The bank’s group head of operations, A Rajan,
said: “We want to offer our customers the benefit of modern, secure
EMV cards and safeguard them from fraudulent skimming and misuse of
their credit cards.”
EMV refers to the international standard for
chip-based payment systems originally developed by the three
organisations: Europay International (now MasterCard Europe);
MasterCard, and Visa.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
