In all major cities of Pakistan as well as other rural and urban areas new year 2020 celebrations were embarked with full colours of life and as long as most of the salary persons and other digital bank connected persons are suffering a lot because most of the ATM credit & debit cards are not working across Pakistan due to magnetic strip cards.
Now a lot of people are suffering due to non receiving of new chip based atm cards because of the negligence of bank staffs by not to inform customers for receiving their ATM cards and as a result of bulk of ATM cards have been collected in concerned banks then shifting to all these ATM cards to main district banks branches. Many complaints have been received in concerned banks when people found their ATM cards not working and long queues of customers in banks to solve their issues.
State bank of Pakistan (SBP) will not be blamed as it was notified to all banks to switch their ATM cards to chip based cards till 30th June 2019 and later on the deadline was again extended till 31st December 2019. If the customers find their new ATM cards then the next hurdle for them is to activate that ATM Card by calling to concerned banks helpline with full detail of parentage and other corresponding necessities
The central bank had also issued circular regarding ‘Regulations for Payment Card Security’ in 2016 and directed all banks for issuance of EMV compliant cards from June 2018 and implementation PIN and Chip till 31st December 2018, However it was not achieved and SBP issued further notification in this perspective.