The new chip and PIN credit cards from Commercialbank will ensure a more secure way to pay with credit or debit cards worldwide at over 24 million merchant locations and at over one million ATMs. When making a payment using the new cards, the cardholder will be asked to enter a four-digit PIN known only to the cardholder instead of using a signature to verify payments at terminals that are EMV compliant.
While most banks chose to outsource EMV card production and personalization to overseas suppliers, Commercialbank has made the decision to issue and personalize all of its EMV plastics in-house at its operations center.
There are many customer benefits associated with this decision – service continuity, increased customer confidence and trust in Commercialbank and its card payment programs – besides the assurance that lost and damaged cards will be replaced almost immediately instead of having to wait for up to six to eight working days for the new cards to arrive from an outsourced and overseas-based service provider, said Paul Russell, EGM and chief retail banking officer at Commercialbank.
