Punching PIN must for debit card deals from Sunday

November 30, 2013 17:05

Debit card holders will from tomorrow be required to punch in their PIN numbers every time they use the card, a move aimed at minimising frauds.

In June, the Reserve Bank had extended the deadline for implementation of mandatory PIN punching at Point-of-Sales (PoS) and merchant outlets till November 30 following representation of banks.

"Our back-end system is in place and we have made changes in all our PoS and merchant outlets to accept PIN (basically ATM PIN) from tomorrow," said Parag Rao, HDFC Bank's head card payment products and merchant acquiring service.

"We have around 3 lakh PoS terminals across the country," he said, adding that the bank has informed all its customers through all channels including SMS and mailers.

As part of awareness drive, SBI has in a notice asked its customers not to handover ATM-cum-Debit card to any person.

It also advised the customers that they should not keep any records of the PIN in physical form.

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