e-Payment Law Update (Episode 3/2016): Local Debit Card Scheme: Another Step Towards Cashless Society
Many developments in the e-Payment industry in Thailand, including the local debit card scheme, have recently occurred. Featured updates include:
- Service providers of debit cards issued and used domestically are now subject to new requirements, including the requirement to use local debit card network (local brand) and to comply with the central chip card standards.
- All newly issued ATM and debit cards must be chip-based, while existing magnetic stripe cards currently in use must be transformed to chip cards by 31 December 2019.