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Update news chip card
The card, which is designed to be encrypted, will store facial recognition features, fingerprints, and anthropometry.
Vietnam’s banks started replacing magnetic cards with chip cards some years ago, but the process has been going slowly.
The change in technology used for domestic payment cards is expected to give a push to non-cash payments in Vietnam.
Banking information technology experts all say that commercial banks have been and would have to accept the risks to be caused by counterfeited ATMs, even though banks have issued chip cards instead of magnetic cards.