EMV compliance

MANILA, Philippines - Visa International and BancNet have signed a memorandum of agreement to help the nation’s largest interbank network accelerate migration to EMV chip cards, as mandated by Bangko Sentral ng Pilipinas (BSP). The agreement allows BancNet to access Visa’s EMV implementation standards to facilitate EMV chip conversion for all domestic transactions. This includes not just issuing chip-enabled cards, but also working to ensure ATMs and point-of-sale terminals meet the internationally recognized chip-standards by 2017. In photo are: (from left) BancNet president Robert P. Blas, BancNet chairman of the board Manuel C. Tagaza, Visa country manager for the Philippines and Guam Stuart Tomlinson, and Visa Asia Pacific head of risk Joe Cunningham.