Postbank set to comply with the EMV migration deadline

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03 January 2018
 
 
The BSP earlier set the deadline for EMV migration on 1 Jan 2017, but since some banks still have yet to comply, BSP extended the deadline giving all the BSP-supervised financial institutions until 30 June 2018, to fully comply with the EMV requirement. The BSP has ordered banks to issue all customers with EMV chip-enabled cards until 30 June 2018.
 
With the conversion of Postbank into OFBank as wholly-owned subsidiary of LAND BANK, the IT systems including the EMV migration is projected to be completed prior to the set deadline.
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