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MANILA - Landbank advises its clients that its ATMs and other electronic services will be down this weekend as it upgrades its system to use EMV technology.
EMV which stands for Europay, Mastercard and Visa -- is a global standard for cards equipped with computer chips and the technology used to authenticate chip-card transactions.
Landbank said the scheduled downtime will start at 10:30 pm June 24 Saturday and last until 3:00 pm June 25 Sunday.
"During the scheduled downtime, you will not be able to transact with Landbank ATMs, cash deposit machines, and other electronic banking channels, including iAccess, weAccess, and mobile banking application. You will also not be able to use your Landbank debit cards (ATM and cash cards)," the bank said in a statement.
The bank added that clients may experience intermittent services even after the scheduled downtime as the system stabilizes.
Landbank advises its clients to conduct their transactions before the scheduled downtime.
The Bangko Sentral has given Philippine banks until June 30, 2018 to adopt EMV, the international standard for chip-based debit and credit cards, which are supposedly more secure than cards that use magnetic strips.
With these, the reason why BDO and BPI recently encountered system errors is due to this implementation of Bangko Sentral in adopting upgrade on EMV to level international standards.
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