Signature Is No Longer Accepted During Credit Card Payment.
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| KUALA LUMPUR: To improve the financial security and to reduce the credit card fraud, start from July 1, 2017, all the payments by using cards which include credit card, debit card and etc. will required to use 6-digit password for transactions, the signature will no longer accept during payment!
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| Composite all Malaysia banks proclamations, according to the National Bank ordinance, since July 1, 2017, all Malaysia issuing banks, financial institutions and credit card users must fulfill the unified standard, which requires users to enter a personal password to verify identity rather than just sign a signature to complete the transaction.
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| The credit card payment by using password is carry out on July 1, 2017, in other words, before 1 July 2017, users still be able to sign the signature for payment.
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| AmBank is the first bank will in advance to implement the “complete transaction by using 6-digit passwords” starts from September 14, 2015.
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| Britain, Australia and many other countries have implemented this “complete transaction by using 6-digit passwords”.
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| The following is the link from all major banks for set the credit card payment password method:
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| Original Article Source Link: http://www.orientaldaily.com.my/s/131327
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| Oriental Daily News, dated 16th March 2016
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