Vietnamplus

Vietnamese commercial banks are required to issue chip ATM cards to improve customers’ transaction security from March 31, according to the State Bank of Vietnam’s Circular No. 22/2020/TT-NHNN.

Under a new regulation, commercial banks will have to switch 30 percent of their current magnetic strip ATM cards – more than 25 million in total – to chip cards by the end of this year to enhance safety and service quality.