First banking chip cards appear in Vietnam
FPT-IS and Gemalto are assisting two other banks to replace magnetic cards in Vietnam with EMV smart cards. The Holland-based partner Gemalto is responsible for technical assistance and training while FPT-IS will design a 274/7 support system. The purpose and goal of the EMV standard is to specify interoperation between EMV compliant IC cards and EMV compliant credit card payment terminals throughout the world. Vietnam is in the region where banks must use smart cards as of January 1, 2006 but till now only VP Bank has issued smart cards.
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