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The Bangko Sen­tral ng Pilip­inas is as­sess­ing whether banks in the coun­try are com­ply­ing with the man­dated shift to the Euro­pay, Mastercard, Visa (EMV) tech­nol­ogy. The dead­line for the com­pli­ance had ended on 30 June. The cen­tral bank is ex­pected to sanc­tion banks that are found to have failed to fully com­ply with the tran­si­tion to the EMV tech­nol­ogy. The full com­pli­ance con­sti­tutes com­ple­tion of all EMV-re­lated ac­tiv­i­ties from up­grad­ing or en­hance­ment of back-end pro­cesses and sys­tems, ATM and point of sales (POS) ter­mi­nals to the re­place­ment of mag­netic stripe credit as well as debit or pre­paid cards, in­clud­ing dis­tri­bu­tion of EMV-com­pli­ant cards. The cen­tral bank had in fact or­dered the banks to shift to EMV way back in 2013.

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