News | Wednesday, 14 January 2009

BOV migrates all Gold and Platinum Credit Cards to Chip and PIN technology

Bank of Valletta has concluded the migration of its Visa Gold and Visa Platinum credit cards to the new generation Chip and PIN cards.
“All our Gold and Platinum card holders can now benefit from the added convenience and security offered through our new Chip and PIN cards,” said Michael Galea, Executive Head responsible for Cards Business at Bank of Valletta.
The new BOV Visa Gold and Visa Platinum Chip and PIN cards incorporate the latest technology. They provide a more straightforward and efficient payment mechanism when compared to cash or cheques. “Customers can also benefit from an interest free credit period together with purchase protection insurance and travel insurance when using these cards. This apart from other benefits associated with our Gold and Platinum Cards,” explained Mr. Galea.
The new Chip and PIN cards simplify the acceptance procedure at the point of sale. The merchant just needs to insert the card in the POS terminal and ask for the cardholder to enter the PIN to have the transaction authorized. “In this way, chip and PIN removes the need of the customer to sign the receipt generated by the EPOS to authorise the transaction”, explained Mr Galea.
Bank of Valletta was the first Bank in Malta to open its POS terminals to accept chip and PIN cards in line with the implementation of the Single Euro Payments Area project of the European Union.

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