The Bank of Thailand (BoT) has recommended the use of micro chip instead of the current magnetic strip for better security and to prevent ATM and credit card skimming scams.

According to the Central bank's senior director, the Commission of Payment System has agreed to implement the chip-based ATM cards, which has better protection against data hijacking than the present ones utilizing magnetic strips.

By 2015, the 50,000 ATM machines nationwide will be made compatible with the chip-based technology and able to read chip-embedded ATM and debit cards.

Several commercial banks are aware of the skimming scam and are actively working to improve their ATM card security. Currently, 30,000 ATM machines throughout the country can accommodate chip-based cards, said the Central Bank.

News from NNT