According to the bank, the use of chip cards provides more safety assurances than debit or ATM cards and prevents the use of fake cards which might contain data from stolen debit or ATM cards via ATMs.
Since 2016, the Bank of Thailand has cooperated with the Thai Bankers Association and other financial institutions to encourage the use of chip cards instead of debit or ATM cards with magnetic strips, to be on par with international standards.
All debit cards and ATM cards are expected to be replaced by the end of 2019. According to financial institutions, about 47 million chip cards are currently in use, while about 20 million magnetic-striped cards are currently used nationwide.
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