According to smart cards the provision of the Financial Supervisory Authority ( ASFI ) since yesterday all Financial Intermediaries ( EIF ) , began issuing no cost credit cards with microchip technology replacing magnetic stripe cards . This process will be open until February 28, 2013 , deadline for nationwide have credit cards with this technology.
Also, from that date until December 31, 2013 will have to perform the same process with debit cards .
From November 1 , no financial institution can issue credit cards with magnetic stripes , while all customers who have these cards may use them until they expire . After that, the return of the card with the new technology and no charge will be made.
In this contactless cards framework, 2275548 debit cards in the country , begin to migrate to microchip technology since March 2013 until the last day of that year. To make this change of technology, ASFI formed a technical committee to carry out the migration process , in coordination with all stakeholders , ie international trademarks (VISA and MasterCard ) , processing ( LINKSER and ATC ) and the EIF .
"The material and the magnetic strip is maintained , the novelty is that a microchip is added. This technology consists of a small memory having storage capacity and electronic protection device that will allow transactions to be carried out with higher levels safety , "said Lenny Valdivia , director of the ASFI.rfid inlay
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