Acleda Bank spent about $1mn to produce 800,000 new ATM cards with EMV (Europay, MasterCard, and Visa) chips to enable them to be used globally and also to mitigate the risk of fraud, the bank’s president and group managing director In Channy said last Friday. The decision to migrate its ATM magnetic stripe card to the ATM chip card with EMV came in response to the rapid growth of banking technology, coupled with the need for better protection of card users, he added. According to Channy, the new ATM EMV chip cards can be accessed at all branches and the bank’s nearly 400 ATM nationwide. (Source: Khmer Times)