Fintech provider completes shift to EMV

Irish fintech company Fexco has successfully completed the migration to Europay, Mastercard and Visa (EMV) processing in the Philippines for its EasyDebit microATM solution ahead of the Bangko Sentral ng Pilipinas deadline.

Fexco Philippines Inc. CEO Ann Chan Foley said EasyDebit has been at the fore of an industry change as one of first platforms to provide full EMV transaction activation on all of its terminals providing safe and secure banking to Filipinos across the country.

“We are committed to the safe and secure processing of all debit and ATM cards. Our migration to EMV is testament to the fact that cardholder security is an integral part of our solution,” Foley said.

The transition to EMV processing comes amid industrywide challenges on the migration from the less secured magnetic stripe technology to the global industry standard of EMV chip technology.

EMV ensures the safer and more secure processing of card transactions reducing the prevalence of fraud for card present transactions.

EasyDebit is a “plug and play” solution requiring minimal installation for merchants who simply download the EasyDebit mobile app.

EasyDebit is available in over 450 locations across the Philippines through a network of accredited partners including payment and remittance centers, sari-sari stores, pharmacies, general retailers and rural banks.

EasyDebit’s successful migration to EMV solidifies the company’s position as a leader in innovation and compliance across the Philippine fintech ecosystem.

Over the coming months EasyDebit is set to widen its functionality as it adds card and bill payment functionality to its EasyDebit Solution.