Aug 7, 2013 (Wed): Metrobank, the second largest bank in Philippines and its subsidiary PSBank have become the first Philippines banks to be certified for ATM acceptance of EMV-enabled MasterCard chip cards. EMV stands for Europay, MasterCard and Visa, a global standard for inter-operation of integrated circuit cards (IC cards) or chip cards for authenticating credit and debit card transactions.
Both banks have started to deploy the EMV technology in its ATMs nationwide to significantly improve ATM security for its consumers in the country. Currently, Metrobank has 1,700 ATMs while PSBank has 536 ATMs in strategic areas nationwide including malls, supermarkets, town and leisure centers, hotels, hospitals and transport hubs. Following the certification of its ATMs, Metrobank also plans to issue EMV-chip enabled debit card in 2014.