Republic getting Chip-shape
WITH 22 000 CREDIT CARDS ON ITS BOOKS and Barbados’ busiest shopping period around the corner, Republic Bank (Barbados) Limited has moved to boost the security of its credit cards.
Even as a representative from retail electronics payments network VISA International reported a fall in credit card fraud in the region, the bank’s chief executive officer and managing director Ian De Souza said his organisation was investing significant sums of money to introduce a more secure card with Chip and PIN technology.
He was speaking Thursday evening at the official launch of the card at The Clubhouse, Royal Westmoreland, St James.
De Souza said Republic Bank would be the first to introduce the Chip and PIN cards here, pointing to security concerns with the traditional card which has a magnetic strip. (SC)
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