Krung Thai Bank joins hands with Credit Unions for debit chip cards

[webfact]

Krung Thai Bank joins hands with Credit Unions for debit chip cards

BANGKOK, 6 June 2016 (NNT) – Songphon Cheevapanyaroj, the vice president for Krung Thai Bank's Financial Management for Business, signed a Memorandum of Understanding on Credit Unions of Thailand’s card service with Chalermphol Dulsamphan, the board chairman of the credit agency.

He said that Krung Thai Bank has been assigned to provide debit chip cards which are to be issued under the name of Credit Unions of Thailand.

The debit chip cards are safe and can prevent cardholders’ data from being stolen by skimmers. The debit chip cards can also facilitate cooperatives members in transactions via ATMs nationwide.

The Krung Thai Bank-Credit Unions partnership was partly made in response to the national e-payment policy of the government.


-- NNT 2016-06-06

[thesetat2013]

Those chips really are no good... they make every use a hassle. Bangkok bank issued me one and with some company called union pay instead of a visa debit card. Stores are not set up for you to enter a pin number every time you use it to make a purchase and union pay isn't accepted everywhere like visa is. In short, I went into the branch that gave me the union pay card and ripped it up and gave it back to them. This new scheme of theirs telling you it is safer from someone using your card is all a farce.

If someone hacks your card at an atm machine they will also have hacked your pin number. The very same number you would use for any transaction now. Meaning they would have acquired the correct information to use your card anyway and anywhere. It provides the card holder with a false sense of security only and makes each transactions more time consuming or difficult.

[Scouse Twoccer]

Those chips really are no good... they make every use a hassle. Bangkok bank issued me one and with some company called union pay instead of a visa debit card. Stores are not set up for you to enter a pin number every time you use it to make a purchase and union pay isn't accepted everywhere like visa is. In short, I went into the branch that gave me the union pay card and ripped it up and gave it back to them. This new scheme of theirs telling you it is safer from someone using your card is all a farce.

If someone hacks your card at an atm machine they will also have hacked your pin number. The very same number you would use for any transaction now. Meaning they would have acquired the correct information to use your card anyway and anywhere. It provides the card holder with a false sense of security only and makes each transactions more time consuming or difficult.

You're missing the point, the idea of the chipped cards is that they stop the hacking of your information so the situation you anticipate shouldn't arise.