JAKARTA: PT Bank Mandiri Tbk is prepared to perform the automatic teller machine (ATM) card technology migration from magnetic stripe to chip as the company has provided infrastructure for the new technology.
According to Director of Micro and Retail Bank Mandiri Budi Gunadi Sadikin, the ATM card technology migration from magnetic stripe to chip is divided into two phases namely the replacing ATM machines and electronic data capture (EDC) and exchanging the card.
"Almost all ATM machine can be used for chip cards. Of approximately 10,093 units of Bank Mandiri ATM machines, only about 500-1000 which cannot read the chip cards," he said, today.
He explained that the old machine which cannot read the chip will soon be replaced before the migration process implemented in 2013. As well as EDC, only 2,000 of 110 000 machines cannot read the chip.
Bank Mandiri has done the ATM replacement since 2008 with at a cost of around IDR70 million per unit, while EDC costs approximately US$300 a unit. The ATM card replacement process will begin early next year in stages.
The card replacement will spend around US$ 20 million, because each chip card worth US$2. (T0/TW7)