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TRUE Fan
68
: ‎09-06-2015

Pin & Pay - Replacing signature with a 6-digit PIN

Hello 'True' friends

 

Effective 1 Jan 2017 all our Malaysia bank issued credit card payments at POS terminal must be authorised with a 6 digit PIN instead of signature.  It is an industry-wide change with objective to improve financial security and prevent credit card fraud.  

 

Personally, i am looking forward to trying out this feature eventhough it can be rather cumbersome because for every credit card transaction done at shopping malls requires us to enter our PIN at cashier counter. also there possibility of entered wrong PIN which delays the entire buying process. To me, security appears to be more important. 

 

Any thought to share ?

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TRUE Seeker
8
: ‎04-12-2015

Re: Pin & Pay - Replacing signature with a 6-digit PIN

I got email notification from other bank that they will be sending new cards with pin feature to me soon.

Hello @nivvie will Ambank be doing the same too?


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Senior TRUE-ist
4
: ‎16-09-2015

Re: Pin & Pay - Replacing signature with a 6-digit PIN

A good approach from BNM. In fact many banks in Europe has implemented that years ago.

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Community Manager
260
: ‎25-01-2015

Re: Pin & Pay - Replacing signature with a 6-digit PIN

Hi @Alisongoh, apologies for the late reply and I hope you have enjoyed your holidays!

 

Yes, it is an industry wide requirement that all credit cards in Malaysia will soon implement a PIN feature instead of the standard signature practice for point-of-sale purchases as this will discourage fraud.

 

AmBank has already completed its first PIN and Pay transaction a few months ago but it will take a few months for all existing AmBank credit cards to migrate from signature to PIN.

 

@hong_323 I'm so used to using my signature instead of inputing a PIN because I'm paranoid there will be people watching me. Smiley LOLHowever, like you said, security is more important so it's something I'll have to get used to!

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TRUE Fan
68
: ‎09-06-2015

Re: Pin & Pay - Replacing signature with a 6-digit PIN

Thanks @nivvie for sharing us the info. Didn't know that AMBANK already started issuing card with PIN. Looking forward to receiving mine Smiley Very Happy

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