The Association of Banks in Singapore announced that its member banks will step up measures to enhance the security of ATM cards and other payment cards. Security experts interviewed pointed out that it would be difficult to achieve both security and convenience ? a more secured system with more complex procedures may end up lengthening the time taken for customer transactions. SMU Associate Professor of Information Systems, Enoch Ch'ng, commented that the bank teller machines can read the magnetic stripes very quickly. Conversely, the ATM machine takes much longer to read the EMV chip. He said that people will complain when the transaction duration is lengthened. However, if they are distracted during the wait, they will not realise the time difference.
Lianhe Zaobao