Emv card security10/16/2023 ![]() While the POS terminal infrastructure has been enabled to accept and process EMV cards since May of last year, the ATM infrastructure continues to process card transactions based on data from the magnetic stripe, the RBI explains. The RBI also is asking banks to upgrade all ATMs by September with additional safety measures to prevent skimming and cloning. In addition, all new ATMs must be enabled to handle EMV cards. All magnetic stripe cards must be replaced by the deadline, irrespective of the card's validity period, RBI notes.īanks in India, as well as white label ATM operators, must ensure that all ATMs are enabled for processing EMV cards by Sept. ![]() RBI says banks should initiate the steps necessary to progressively migrate to EMV by the deadline. 31, 2018, deadline for banks to complete their migration to EMV chip-and-PIN payment cards, rejecting calls for additional deadline extensions for issuing the cards.
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