Australian banks have begun rolling out debit and credit cards that feature a new eftpos chip designed to reduce fraud. The card features Europay, MasterCard and Visa (EMV) security.
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Australians will continue to be ripped off by international crime syndicates unless banks fast track the rollout of ATM chip technology, according to Queensland Police Detective Superintendent Brian Hay.
International card provider, MasterCard, has outlined a five-year plan for making its Australian network more secure through the use of card security measures, such as the Europay, MasterCard and Visa (EMV) standard.