Progress Update on PIN & PAY Initiative: Ready, Set and PINRef No : 06/17/05 23 Jun 2017 Embargo : For immediate release
As announced by Bank Negara Malaysia earlier, with effect from 1 July 2017, all local payment card transactions will be verified using PIN. Signature verification will no longer be accepted from that date.
To date, close to 23 million payment cards in Malaysia have been replaced with PIN-enabled cards. All payment card terminals deployed in Malaysia, including outdoor payment terminals at petrol stations, have also been upgraded to support the use of PIN.
The vast majority (94%) of cardholders are already using PIN, with only 6% of PIN-eligible card transactions reported to be still using signature verification as at 31 May 2017.
As signature verification will no longer be accepted from 1 July 2017, cardholders who have not converted their payment cards into PIN-enabled cards should contact their banks or non-bank payment service providers immediately for replacement.
For enquiries or assistance on conducting PIN payment transactions, the public can contact their respective banks and non-bank payment service providers using the customer service helplines listed here. Information on customer helplines is also available at www.bnm.gov.my/pinpay and http://www.abm.org.my/index.cfm?sc=pinandpaynumber.
Bank Negara Malaysia
23 Jun 2017
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