The Reserve Bank of India (RBI) has announced a set of guidelines on securing Card transactions. In compliance with these guidelines, All credit card will be replacing existing magnetic stripe Cards with Chip and PIN enabled Cards in a phased manner over the coming few months.
If your card is Non-chip based request for new card and APIN will be mandatory for making any purchases using your debit card. This will be a welcome move by RBI which will safeguard your card against misuse and loss of your money in case it is misused by the person who has stolen or in possession of the card.
Don’t even share your card pin with any one nor write on the back side of your card.
chip & PIN technology makes it difficult to duplicate or access data stored on your Card. As a result, Chip Cards provide enhanced protection against fraud from lost, stolen or counterfeit cards.
You will have a unique PIN that is provided only to you. This PIN is key to authorizing Card transactions and ensuring that your Card remains secure.
