When BPI introduced the first through-the-wall 24/7 ATM in the country in 1983, it revolutionized its customers’ personal banking experience. They no longer had to rush to the bank during banking hours. Having an ATM card gave people access to their cash from multiple locations at any time of the day.
In the past, ATM cards were magstripe cards, which stored information in a single magnetic stripe. The technology has served us well, but now it’s time to embrace the next wave of digital transformation with the BPI EMV Debit Mastercard. The upgrade to EMV cards is part of BPI’s digitization journey for the convenience and security of the clients.
EMV has been described as the international standard for credit and debit payment cards based on chip card technology. EMV stands for Europay, MasterCard, and Visa — the three entities that originally developed it. In fact, the Central Bank has ordered all Philippine banks to switch to this technology because it offers better protection for customers.
Now, what sort of benefits can users get from the BPI EMV Debit Mastercard? We’ve listed five of them.
1. It’s got added security. We know that banks keep our money safe — but there are scammers out there who are constantly making attempts to steal our hard-earned cash. With the EMV chip, the data is encrypted and stored in microprocessor smart chips, which makes it difficult for scammers to skim and clone the cards.
2. It allows you to go cashless. The EMV chip-equipped BPI Debit Mastercard is accepted in Bancnet and EPS POS terminals nationwide. You can go shopping without having to line up to withdraw cash at ATMs.
3. It’s an all-in-one timesaver. BPI’s EMV Debit Mastercard has an Account Linkage feature that allows you to access up to nine other linked BPI deposit accounts in any BPI ATM. Of course, you can also easily access your account online via BPI’s mobile and online banking.
4. It’s global. If you’re always traveling, then you’ll be glad to know that you can use your BPI EMV Debit Mastercard in Mastercard-affiliated ATMs abroad. You can immediately withdraw cash in the currency of the country you’re in. There is no need for you to call your BPI branch or BPI hotline 89-100 to activate international access because it’s already enabled for international transactions.
5. It is online-ready. Soon, you will be able use your BPI EMV Debit Mastercard for online and app-based transactions.