PayMaya releases latest, more secure EMV card

PayMaya introduces a new card that will help lower security risks with its innovative and minimalist design.

Aside from being equipped with the EMV standard, the new PayMaya card has all personal information of the cardholder including the card number, the expiry date of the card, the CVV card security code as well as the cardholder’s name printed at the back of the card, which makes it more secure than most cards out in the market today.

The front-card design showcases a minimalist style with only pertinent logos and symbols of the features of the card.

According to PayMaya, the card is one of the first in the world to utilize this design feature, which is in response to the social media habits of its largely millennial user base, so that their cards can be safe and secure from being used by unscrupulous individuals even if they take photos of it and post it online.

Based on a Nilson Report published in November 2018, global brand card fraud amounted to $21.57 billion in 2017, up 6.9% from $20.18 billion in the year before. It is projected to increase in the coming years as consumers are seen to increase the volume of their transactions.

“We are proud to be at the forefront of providing stronger security measures for PayMaya users,” said Kenneth Palacios, head of Wallets Business at PayMaya Philippines. “We know our users love their cards which is why they are always excited to post about it on their social media accounts, but that also means exposing sensitive personal information to the public. With this new card, our customers are assured that they can brandish their cards to their heart’s content without risking their safety and security.”

The new PayMaya card is available now at the PayMaya Online Store for only P200.

As the most in-demand e-wallet payment option particularly for the young market, PayMaya has also enhanced the convenience and security of its card by incorporating the EMV standard as well as the contactless payment feature of Visa and Mastercard.

PayMaya cardholders can also maximize the card’s features by linking their physical PayMaya card to the PayMaya app. By doing so, they can enjoy one wallet for online or in-store purchases and efficiently manage their expenses. Withdrawing for extra cash using the PayMaya card can be done anytime, anywhere on any BancNet ATM nationwide and any Visa Plus machines abroad.

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