{"id":9934,"date":"2016-11-22T10:19:38","date_gmt":"2016-11-22T02:19:38","guid":{"rendered":"http:\/\/primer.com.ph\/blog\/?p=9934"},"modified":"2016-11-22T10:19:38","modified_gmt":"2016-11-22T02:19:38","slug":"philippines-adopt-new-unionpay-chip-card-standard","status":"publish","type":"post","link":"https:\/\/primer.com.ph\/blog\/2016\/11\/22\/philippines-adopt-new-unionpay-chip-card-standard\/","title":{"rendered":"Philippines adopt new UnionPay chip card standard"},"content":{"rendered":"<p>In a report published by <a href=\"http:\/\/www.unionpayintl.com\/en\/enaboutUpi\/ennewsCenter\/encompanyNews\/3014707.shtml\">unionpayintl.com<\/a>, UnionPay announced its new chip card standard licensing cooperation on October 12, 2016 to mark a new breakthrough in the \u201cGoing Global\u201d of China\u2019s financial technology standards.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-9935\" src=\"https:\/\/primer.com.ph\/blog\/wp-content\/uploads\/sites\/14\/2016\/11\/union-pay.jpg\" alt=\"union-pay\" width=\"600\" height=\"271\" srcset=\"https:\/\/primer.com.ph\/blog\/wp-content\/uploads\/sites\/14\/2016\/11\/union-pay.jpg 600w, https:\/\/primer.com.ph\/blog\/wp-content\/uploads\/sites\/14\/2016\/11\/union-pay-300x136.jpg 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/p>\n<p style=\"text-align: center\">Image grabbed from: <a href=\"http:\/\/www.unionpayintl.com\/en\/enaboutUpi\/ennewsCenter\/encompanyNews\/3014707.shtml\">unionpayintl.com<\/a><\/p>\n<p>The major switch network in the Philippines will adopt the new standard in card acceptance and card issuance along with five other Asia-Pacific countries: Singapore, Thailand, South Korea, Malaysia, and Indonesia.<\/p>\n<p>The six participating institutions are the Philippine-based interbank network, BancNet; Thailand\u2019s National Interbank Transaction Management Exchange , NITMX; the Network for Electronic Transfers Singapore Pte Ltd., NETS; Indonesian ATM switch institution, Rintis; Malaysia Electronic Payment System, MEPS; and Korea Financial Telecommunications and Clearings Institute, KFTC.<\/p>\n<p>This development helps promote the payment industries in these markets to upgrade from magnetic stripe cards to chip cards, and paves way for the roll-out of UnionPay contactless, mobile and wallet payment products in these markets.<\/p>\n<p>The Asian Payment Network, composed of 13 switch networks in 11 Asia-Pacific countries,\u00a0aims to promote the interconnection among various payment networks in the region.<\/p>\n<p>Source: <a href=\"http:\/\/www.unionpayintl.com\/en\/enaboutUpi\/ennewsCenter\/encompanyNews\/3014707.shtml\">unionpayintl.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The major switch network in the Philippines will adopt UnionPay&#8217;s new chip card standard.<\/p>\n","protected":false},"author":3,"featured_media":9935,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[1024,1023,119,1022],"class_list":["post-9934","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-current-events","tag-asian-payment-network","tag-bancnet","tag-philippines","tag-unionpay"],"acf":[],"jetpack_featured_media_url":"https:\/\/primer.com.ph\/blog\/wp-content\/uploads\/sites\/14\/2016\/11\/union-pay.jpg","_links":{"self":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts\/9934","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/comments?post=9934"}],"version-history":[{"count":1,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts\/9934\/revisions"}],"predecessor-version":[{"id":9936,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts\/9934\/revisions\/9936"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/media\/9935"}],"wp:attachment":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/media?parent=9934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/categories?post=9934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/tags?post=9934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}