Raiffeisenbank migrates to EMV
Raiffeisenbank plans to make all its cards on microprocessor technology. Anton Safonov, head of credit cards and personal loans department, has announced plans of Raiffeisenbank to migrate to smart cards in his interview. “In the fourth quarter of 2009 we’ll start issuing smart cards, – he said, – and we’ll get such card migration finished roughly till the end of 2011.“ Bank has started re-equipping its facilities.
Currently Raiffeisenbank has issued more than 1.5 million cards, and has a network of more than 1,400 АТМs.
Up to now only some of Russian banks have fully migrated to smart cards that has enabled them to reduce frauds approximately by 50 %.