Soon All Banks Magnetic strips Debit cards will blocked

Soon All Banks magnetic strips Debit card will blocked:

As per the RBI guidelines, you are required to change your Magstripe Debit Cards to EMV Chip Debit Cards by the end of 2018.

The Reserve Bank of India has instructed banks to shift from magnetic stripe based ATM and debit cards to EMV chip and Pin based model of cards to ensure protection of cards from cloning, skimming and other forms of frauds which can happen on a magnetic strip.

The POS terminal infrastructure in the country has been enabled to accept and process EMV Chip and PIN cards, the ATM infrastructure, on the whole, continues to process the card transactions based on data from the magnetic stripe. Contact Chip processing of EMV Chip and PIN cards at ATMs would enhance the safety and security of transactions at ATMs."

How will I know whether my Debit Card is a Magstripe Card?

A. You can identify your Debit Card as a Magstripe Debit Card if there is no Chip located on the face (centerleft
position) of the Debit Card.

How will I know whether my Debit Card is an EMV Chip Debit Card?
A. You can identify your Debit Card as an EMV Chip Debit Card if there is a Chip located on the face (centerleft
position) of the Debit Card.

What is an EMV Chip Card?
A. EMV Chip technology is the latest global standard for Debit Card payments. This technology features
Debit Cards with embedded microprocessor chip that store and protect cardholder data. This is a much
secure technology as compared to Magstripe variants of Card.