Vietnam pilots cash withdrawal at ATMs with chip-based ID cards
VNA -
(VOVWORLD) -People will be able to withdraw cash from ATMs by scanning their chip-based ID cards under a new pilot service provided by the Ministry of Public Security.
 Cash withdrawals using chip-based ID cards is being piloted at several banks in Hanoi and Quang Ninh province (Photo: VNA) |
The ministry’s Police Department for Administrative Management of Social Order said the department has organized the withdrawal of money using chip-based ID cards at several banks. After people scan ID cards at the ATM, the banking system immediately checks and verifies the information on the chip and allows them to withdraw money. At the moment, just bank cards and QR codes can be used to withdraw cash at ATMs.
According to the department, the use of chip-based ID cards will help minimize the risks of card forgery and ensure safety in financial transactions. Instead of using a PIN, the banking system will check and verify the information via biometric data, including face and fingerprint recognition.
The service is being piloted with a number of large banks in Hanoi and Quang Ninh province. BIDV and VietinBank are among the first banks to provide the service.
The new form of cash withdrawal is expected to be expanded throughout the banking system in the near future.
VNA