New PayPal Email to India : Chip and PIN card : RBI guidelines

Discussion in 'PayPal' started by itz, Oct 8, 2014.

0
  1. #1
    Hello..

    I've received an email today

    Sub : Update your PayPal account with Chip and PIN card.

    Dear XXXX,

    In compliance with RBI guidelines on securing card transactions, all banks have issued new Chip and PIN enabled Cards.

    Please ensure your PayPal account is updated with the new card information to facilitate your online cross border shopping.

    It’s simple, here’s how:
    Step 1: Log in to your PayPal account and click on "Profile"
    Step 2: Click on "Add or Edit Credit Card"
    Step 3: Remove your old card, add the new one and set it as the primary funding source.

    If you have any questions, please contact us. We’re always here to help.

    Sincerely,
    PayPal

    What's Chip and PIN enabled Cards ??

    Please suggest ?
     
    itz, Oct 8, 2014 IP
  2. deluxdon

    deluxdon Catch Me If You Can...!!!™ Staff

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    #2
    Not aware of other banks but recently HDFC bank sending new chip enabled cards to their customers.

    DON.
     
    deluxdon, Oct 9, 2014 IP
  3. Digital_shubhi

    Digital_shubhi Illustrious Member

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    #3
    Ya, I too got it for my HDFC back in July but my SBI never sent anything. :)
     
    Digital_shubhi, Oct 9, 2014 IP
  4. nihangshah

    nihangshah Prominent Member

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    #4
    With reference to this article and this RBI circular, paragraph 2. A. i) specifies that "All new debit and credit cards enabling international usage will have to be essentially EMV Chip and Pin enabled."

    This means, that your debit / credit card will probably have to be re-authenticated, once the bank implements the policy of EMV Chip and Pin

    EMV Chip cards looks like this:
    [​IMG]

    They use an embedded microprocessor for payment transactions. They can be authenticated using an encrypted chip and pin number that can't be easily cloned or copied by skimmers or scanners
     
    Last edited: Oct 9, 2014
    nihangshah, Oct 9, 2014 IP
    itz likes this.
  5. itz

    itz Active Member

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    #5
    itz, Oct 10, 2014 IP
  6. cognicraft

    cognicraft Active Member

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    #6
    I too got this notice from paypal.
    Do i need to replace my old credit and debit card now?
     
    cognicraft, Oct 12, 2014 IP
  7. itz

    itz Active Member

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    #7
    @ cognicraft , Yes , you've to replace old one according to PayPal guidelines..
     
    itz, Oct 12, 2014 IP
  8. Cloudcandy Host

    Cloudcandy Host Member

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    #8
    Most of the Banks here in India are sending out Chip and Pin Cards if they detect any International Transactions on your current credit cards, one needs to just change the new card information in the Paypal.. Got SBI, AXIS and ICICI chip cards even before this Paypal notice.
     
    Cloudcandy Host, Oct 12, 2014 IP
  9. Kang

    Kang Member

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    #9
    Hi,

    I already had EMV chip card from HDFC which i added a year ago in my paypal account, do i need to edit it again ?
     
    Kang, Oct 14, 2014 IP
  10. humtuma

    humtuma Notable Member

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    #10
    Those who have already replace the card. What about they? I have already add the chip card in 2013.
     
    humtuma, Oct 26, 2014 IP
  11. smellyfinger

    smellyfinger Well-Known Member

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    #11
    I don't have any CC/Debit card attached to my PP. My account is verified though ( by confirming the two amounts which pp send to my by ac no.).

    Do I need to do anything in this case? I haven't received any notification btw!
     
    smellyfinger, Nov 3, 2014 IP