Irish International fintech company, Fexco has successfully completed migration to EMV - Europay, Mastercard, and Visa - processing in the Philippines for its EasyDebit microATM solution ahead of the Bangko Sentral ng Pilipinas deadline.
The transition to EMV processing comes amidst industry-wide challenges on the migration from the less secured Magstripe (magnetic stripe) technology to the global industry standard of EMV chip technology. EMV ensures the safer and more secure processing of card transactions reducing the prevalence of fraud for card present transactions.
EasyDebit has been at the fore of this industry change as one of first platforms to provide full EMV transaction activation on all of its terminals providing safe and secure banking to Filipinos across the country.
EasyDebit is a ‘plug and play’ solution requiring minimal installation for merchants who simply download the EasyDebit Mobile App. EasyDebit is available in over 450 locations across the Philippines through a network of accredited partners including payment and remittance centers, sari-sari stores, pharmacies, general retailers and rural banks.
EasyDebit’s successful migration to EMV solidifies the company’s position as a leader in innovation and compliance across the Philippine fintech ecosystem. Over the coming months EasyDebit will widen its functionality as it adds card and bill payment functionality to its EasyDebit Solution.
Speaking on the successful migration to EMV processing, Ann Chan Foley, CEO at Fexco Philippines, Inc. commented, “We are committed to the safe and secure processing of all Debit and ATM cards. Our migration to EMV is testament to the fact that cardholder security is an integral part of our solution.”