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March 2, 2021
BUSINESS

Garanti Bank adopts chip-based MasterCard standard for its debit cards

Garanti Bank has started the process of turning its debit cards from Maestro into MasterCard, also enforcing the chip-based technology, reads a press release. The new card, name Bonus Debit Card, will have as main feature the accumulation of a bonus for each purchase conducted with this card. The chip-based technology that will be adopted for debit cards increases the safety of card payments, because the information stored on the chip will be better protected against cloning or fraud attempts. In a first phase, Bonus Debit Cards will be issued to new users and to those customers whose cards will have to be renewed over the next interval. In a second phase, starting December 2011, all previously issued cards will be replaced.

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