Butterfield Bank Issuing Chip & PIN Debit Cards
The Bank of Butterfield has “commenced the mass reissue of its Debit Mastercard Cards with both ‘Chip and PIN’ technology and the contactless ‘RFID’ payment technology,” the company said today.
“This means the security of the Card has been enhanced and you now have the option of a quicker checkout process. These improvements help both cardholders and merchants with minimising fraud,” a bank spokesperson said today.
“Adding to its already existing ‘Chip and PIN’ Cards suite, your new Debit Card from Butterfield will also provide you with the capability of making a payment by tapping your card against the contactless point-of-sale [POS] terminal so that your payment is processed faster.
“The Card will continue to display the magnetic stripe as a payment option for merchants that do not process ‘Chip and PIN’ or contactless transactions.
“To make purchases at merchants who are equipped with POS terminals that support ‘Chip and PIN’ technology, Cardholders must insert their Credit Cards into the Chip-enabled terminal, confirm the amount of the transaction, and authorise the transaction by entering their PIN on a keypad.
“To make purchases using the ‘RFID’ or ‘Tap and GO’ feature, you must lightly touch your card against the POS terminal. You will hear a beep to confirm that the transaction has been processed.”
Peter Jackson, Senior Vice President, Group Head of Card Services at Butterfield said, “We are pleased to now provide this enhancement in fraud protection to our Debit Card clients. As we see an increase in Card fraud, we anticipate that these changes will help reduce it significantly.”
The bank added that, “All customers that currently hold a Butterfield Debit Card will be mailed a newly enhanced card. If your mailing information has changed, please visit any Butterfield Banking Centre to update your details to ensure that you receive your new card.
“Cardholders who have already selected PINs for their Butterfield Debit Cards [for use at ATMs] may continue to use those same PINs with their new ‘Chip and PIN’ Debit Cards for POS transactions.
“In the near future, Butterfield will be updating all of its Cards to be equipped with the option to pay using the contactless “RFID” payment technology.”
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Category: All, Business, technology
Yay! finally catching up with the rest of the world….
I seem to be missing something. With chip and pin you you provided the PIN number as a security measure to prevent unauthorized use of the card. With the tap and go no security authorization is required. I can see more fraud
What all the shops also need is a privacy guard around the keypad so people cannot see what you are typing.