Market Report, "Debit Cards in Mexico", Published
The migration from magnetic strips to the inclusion of chips in debit cards, which started in 2011, is becoming a primary issue amongst issuers of debit cards in order to prevent fraud and card cloning. Currently, debit cardholders are not protected against theft or misuse; however, with this new measure, the Comision Nacional Bancaria y de Valores (CNBV) states a maximum 3-year period for banks to complete this migration, or else they will be responsible for any ensuing fraud. During...
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