Chip and Pin are credit or debit cards (ATMs) that
contain an embedded microcomputer chip that holds cardholder PIN data.
To use the card the customer must enter his or her
personal identification number (PIN). This will help prevent certain types of payment
card fraud and fraud related charges.
If your ATM card has a ‘SIM card like’ chip it is
probably the recommended Chip and Pin ATM card and if it has a black stripe
behind then it’s the danger prone magnetic stripe ATM card
 |
| magnetic stripe |
 | |
| Chip and Pin |
Chip technology ensures cards are authentic and
faster thus is virtually impossible to
copy and when it is combined with the use of a PIN, it helps reduce fraud or
counterfeit cards. They are also safer as compared to magnetic stripe cards.
Kenya Bankers association and Central bank of Kenya
are working to ensure that banking industry in Kenya adopt Europay ,MasterCard
and Visa (EMV) chip and pin technology by the end of the year.
Kenyan commercial banks have already migrated from
magnetic stripe cards to Chip and Pin tech. Equity bank, Cooperative bank,
standard chartered bank and family bank have already started using this ATM
cards. Chip and Pin technology will see Kenyan businesses deliver faster and
more secure ways for customers to pay. KCB bank are yet to migrate from magnetic
stripes.
Magnetic stripe ATMs is a type of card capable of
storing data by modifying the magnetism of tiny iron-based magnetic particles
on a band of magnetic material on the card. This card have since proved easy
targets for fraudsters and card skimmers.
Next time you visit your bank enquire the type of
ATM card in use and ask for Chip and Pin cards.
LAIKIPIA
UNIVERSITY PRESS
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