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Cards

Sterling Bank launches suite of EMV-embedded cards

Friday 31 October 2008 | 02:03 PM CET

Philippine-based savings service provider Sterling Bank of Asia launches five new variants of the ShopNPay debit card, which sports EMV (Europay, Mastercard, Visa) chip cards for added security.

Thus, the ShopNPay suite includes different cards aiming to address various consumer needs. Four of the five cards are prepaid debit payment instruments. One of them is a general purpose reloadable card, the second is a loan card, the third a gift card and the fourth a remittance card geared at consumers interested in receiving money from abroad. The fifth new Sterling Bank card is a classic debit card which – like the four prepaid cards in the suite – can be used for purchases at over 70.000 Visa-accepting locations in the Philippines and over 29 million worldwide.

Representatives of the Asian bank expressed their hopes regarding the increased safety offered by the EMV chip system compared to traditional magnetic stripe cards.
 

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