In the first half of 2014 ATMs will be adapted to the new technology which was first incorporated in the country in October last year.
S21.com.gt reports: "After various issuers of credit and debit cards began incorporating the chip to improve safety and avoid credit card cloning, the banking system needs to work on changing ATM's so that they can read these new cards".
Panamanian banks are preparing for the migration from magnetic to chip cards in an effort to reduce fraud in the country.
Although the change from magnetic to chip cards (EMV) in Panama is being applied gradually, banks such as Bac Credomatic and Banco General are already applying the finishing touches to adopting this new technology.
Visa has announced it will begin in Guatemala the process of eliminating magnetic stripe cards and replacing them with ones that have chips.
Guatemalan financial institutions are working on building the infrastructure necessary to meet this new technology, said the executive director of Visa Central America, Roger Sanchez. The delivery of the first chip card is scheduled for early next year.
In the first four months of the year, foreign sales of chips fell by 19% and banana by 4% .
According to the Ministry of Foreign Trade and Foreign Trade Promoter banana exports went from $244 million in the first quarter of 2010 to $234 million microprocessors went from $664 million to $533 million.
The company moved this operation to factories in Asia, because it wants to concentrate its Costa Rican facility in the production of server microprocessors.
The chipset assembly plant had been installed in Costa Rica in 2003, adding to a server production facility and a distribution center. Intel already has chipset plants in Malaysia and China.
The article by Juan Fernando Lara, from Nacion.com, reported that corporate affairs manager for Intel Costa Rica, Karla White, said: "The process of taking chipsets from Costa Rica responds to increased demand among corporate server customers. There is growing awareness in the world that new technologies offer increased energy efficiency and data processing, which increases demand in the server market for data centers".
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Technisys is the omnichannel digital banking company. It offers technology solutions that allow banks to stand out through their customer experience, increase their sales and dramatically reduce their time-to-market when it comes to launching new financial services. Technisys culture lies on its innovation, its human capital talent and its vision of the future. The digital age represents an unprecedented growth opportunity for the financial service providers, and Technisys helps its customers to differentiate and capitalize it.
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