I take pleasure in furnishing hereunder the detailed information on the EMV Chip Cards that are to replace the existing credit cards, received from Standard Chartered Bank.
EMV
Chip Cards
As per the recent Reserve
Bank of India (RBI) guidelines, all banks need to be compliant in issuing EMV
Chip Cards and PIN for usage at Point of Sale (POS) terminals and for cash
withdrawals.
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Please find below a few FAQs that will guide you through this
transition:
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Q:
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What is EMV?
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A:
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EMV is a technology being used by banks to mitigate the risk of
Cards being used fraudulently at POS terminals or ATMs. Reserve Bank of
India has mandated usage of EMV Chip and PIN on Debit and Credit Cards as a
secure mechanism for payments and for protection against frauds.
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Q:
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How will the Card look?
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A:
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Your Card will continue to look the same but will additionally have
a "smart" chip on the front. The chip itself is buried inside the
Card and will appear as a gold coloured square on the front left-hand side
of the Card face.
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Q:
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What is a PIN?
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A:
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PIN (Personal Identification Number) is the 6 digit number you will
receive after you receive your new Chip Card. Please note that the PIN is
critical for all terminal transactions. Kindly keep this PIN secure and do
not share it with anybody. It will be required to be entered across all
merchant POS terminals like fuel stations, supermarkets, departmental
stores, jewellers, etc. after you use your Card. It will also be required
as a password for ATM cash transactions on your Credit Card.
Please note that your 6 digit Credit Card PIN is different from your
four digit Debit Card PIN.
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Q:
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What should I do with my old Card(s)?
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A:
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Once you receive your new Card, you should cut and dispose off your
old Card securely.
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Q:
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If I have forgotten or lost my 6 digit PIN, how can I regenerate it?
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A:
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You may log in to your Online Banking account and generate a 6 digit
PIN instantly. You may also call our Phone Banking team on the numbers
mentioned overleaf and place a request for a new 6 digit PIN.
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Q:
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When will I receive my 6 digit PIN?
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A:
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You will receive your 6 digit PIN within 10 working days of the
receipt of your Card.
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Q:
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How do I use my Card?
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Insert Card as far as
it will go into terminal
and leave it there.
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Follow terminal for instructions
to select type of payment
(e.g., credit, debit, etc.).*
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Confirm the amount and
provide 6 digit PIN or
signature to authorize
the transaction.
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Remove Card
when transaction is complete
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Your PIN is critical for all Point of Sale (POS) terminal transactions
and ATM withdrawals and should hence, be kept safely.
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