KUALA LUMPUR: The Association of Islamic Banking Institutions Malaysia (Aibim) and The Association of Banks in Malaysia (ABM) have urged retailers and cardholders to switch to the PIN-enabled terminal and debit/credit cards as soon as possible.
Aibim and ABM, in a joint statement today, said this is because using PIN is a more secure, convenient and faster way to pay compared with using signature and card payments without PIN, which would soon no longer be accepted in Malaysia.
The associations also urged retailers with PIN-enabled terminals to always offer their customers the opportunity to securely key in their six-digit PIN if they were using PIN-enabled cards and the terminal prompts for PIN entry.
“Many retailers are automatically bypassing PIN when presented with a new PIN-enabled card, possibly to avoid having to present the PIN pad to the customer,” it said.
It said that retailers, who have PIN-enabled terminals, were also urged to display the PIN and Pay logo at their shop and payment counters.
The associations said the rollout of PIN and Pay in Malaysia has reached critical mass in terms of the number of PIN-enabled cards distributed to cardholders, and the number of terminals at retailers upgraded for PIN.
“PIN and Pay is now available at many retailers where cardholders shop most frequently, such as, but not limited to, supermarkets/hypermarkets, department stores and pharmacies,” it said.
According to the statement, the associations had collaborated with electronic payment providers, Mastercard and Visa, to actively promote the usage of PIN across the country.
This is in line with a market-wide project called “PIN and Pay” to change the way customers are verified when using their payment card at domestic point of sale terminals, it added.