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Family Bank issues new ATM cards [Business Daily (Kenya)]
[July 24, 2014]

Family Bank issues new ATM cards [Business Daily (Kenya)]


(Business Daily (Kenya) Via Acquire Media NewsEdge) Family Bank has stepped up its issuance of the new PIN and chip cards, in tandem with the banking industry's ongoing migration to the new technology deemed to be more secure from hackers.



The EMV (Euro, MasterCard and Visa) compliant cards have an implanted memory chip that holds the user's information instead of the more fraud-prone magnetic strip.

Family Bank is also issuing its customers Visa branded debit cards— joining the vast Visa Network ATMs and point-of-sale terminals.


The lender started issuing the new EMV compliant cards in the first quarter of the year. The new cards require the use of a personal identification number (PIN) when transacting at all point of sales terminals as well as the ATMs.

They have enhanced security features that make it difficult for anyone to skim, clone or duplicate.

"It is an important shift for the banking industry and critical for the bank. These cards are also usable globally wherever our customers travel" said Family Bank CEO, Peter Munyiri.

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