EIGHT local financial institutions have officially migrated to Europay-MasterCard-Visa (EMV) chip-based smart cards and the remaining nine are actively in the planning and implementation stages, Visa International country manager for Malaysia, Brunei and Guam, Jeffrey Perera said.
Quoting a Bank Negara report released early last year, he said the local financial institutions were projected to invest RM180mil to migrate to chip-based smart cards. The amount would include the cost of plastics, chips and terminals.
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