NMB TO INTRODUCE NEW DEBIT CARDS

The National Microfinance Bank (NMB) is set to launch a chip based payment card this month to replace stripe ones in its latest bid to introduce a debit MasterCard.

The MasterCard will be introduced after the largest bank complies with EMV standards to enhance safety and security for the users - at ATMs and Points of Sale.

NMB’s Managing Director, Ms Ineke Bussemaker, told a news conference recently that the move was part of of the bank’s efforts to use EMV technology to put off and manage fraud in the payments ecosystem.

“We will roll out the chip based master card to intensify security and better services,” Ms Bussemaker said. Earlier, NMB Chief Risk Officer, Ms Tom Borghols, said the bank has identified the risk side associated with the raising cases of ATM fraud, but with the help of its mother bank Rabobank of Netherland they have worked them out.

“We are well prepared - we have identified the risks and we would work them out - but even before coming with the EMV technologies, surveillance cameras have also helped to lower ATMs theft,” Mr Borghols said.

The NMB MasterCard will raise the number of ATM channels and number of users as the bank has 600 machines and some two million customers with some 3.1tri/- deposits at the end of this year’s quarter one.

The bank has created the widest network with almost 170 branches scattered across the country. The penetration in all districts is 95 per cent.

Daily News