Recently, many bank card users have found that the IC card in their hands cannot brush magnetic strips. It is understood that according to the "Notice" issued by the central bank, a timetable has been proposed for the commercial banks to close down the channel financial IC card downgrade transactions. Before the end of October, the national POS terminals will close the financial IC card downgrade transactions, and each commercial bank should The financial IC card downgrade transaction on other offline channel terminals will be closed before the end of the year.
At present, China Merchants Bank and Hua Xia Bank have recently closed down their chip card downgrade transactions, which means that the security of these bank financial IC card card customers will be greatly improved in the future.
Among them, Hua Xia Bank completely closed the financial IC card downgrade transaction since July 12. The financial IC card downgrade transaction that is closed this time means that it is necessary to use a chip of a financial IC card for trading in a terminal having a chip acceptance capability. On other trading terminals that can only use magnetic stripe cards, the magnetic strips of financial IC composite cards and credit cards can still be traded.
In addition, since July 1, 2014, the downgrade transactions of bank ATMs issued by China Merchants Bank in Shanghai, Guangzhou, Chengdu, Beijing, Guiyang, Ningbo and other pilot areas will be rejected. The message is "Cannot complete the transaction with the chip, please contact the issuing bank to verify whether the card is damaged or replace the ATM."
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