A Interbank Services Company (EMIS), will implement a new system called EMV "Chip and PIN" (code and chip), which aims to replace the current one that works with magnetic stripe and ensure greater protection against fraud in domestic transactions.
According to the director of the company's fraud production and control department, António Vigário, who was speaking at the Luanda International Fair (FILDA), he explained that Angolan banks will gradually change more than 4 million with the implantation of the new cards debit cards from the 'multicaixa' interbank network, which work only with magnetic stripe.
According to EMIS data, the number of valid "multicaixa" cards reached at the end of last year the 5,86 million, of which 4,16 million active, and are therefore used regularly. In 2010, the Angolan "multicaixa" network had only 2 million valid cards, of which 1,3 million active, reason why in the space of eight years accumulated a growth of 190%.
In Angola, according to EMIS, a total of 2017 ATMs were in operation at the end of 3.026, 115 more than in the previous year. In December last year, 77.244 Automatic Payment Terminals (TPA) were also registered, which can be used with the same “multi-box” cards and in all types of businesses and services, issued by more than 25 banks operating in the country. , representing in this case a growth of 10.000 terminals in the space of one year.
António Vigário did not advance concrete deadlines for the implementation of the system or values involved in this business. However, he said there has been an increase in the number of ATM transactions in the last six months.
