OREANDA-NEWS. March 31, 2008. All cards issued by Nordea starting from the end of March will contain a chip in addition to the magnetic strip, reported the press-centre of Nordea.

The chip used in Nordea cards represents the latest generation of chip technology, and is the most secure type of chip in use today.

With the introduction of the chip card, it will be even more important than before to safeguard and memorize your PIN code, as the PIN code is necessary not only for use of ATMs but also for making payments by card. The term of validity of the new cards will also increase from two to three years, as chip cards are more reliable and durable than cards with magnetic strips.

Nordea’s head of retail banking Olavi Pakkonen explains that the switchover from magnetic cards to chip cards can be made in the course of ordinary card replacement and customers will not need to make a special trip to pick up a chip card. "Customers will receive a chip card when they extend their card, and all new cards issued will have the chip," noted Pakkonen.

Nordea issues Maestro debit cards and MasterCard credit cards.