OREANDA-NEWS. April 19, 2011. Raiffisenbank announces that all its Visa and MasterCard cards will have a chip. They will also keep the magnet stripe, which will allow to use them in any ATMs and POS terminals, including those with no chip readers yet in place, reported the press-centre of Raiffisenbank.

"Card chips offer our customers a great opportunity to control the safety of their transactions. The chip technology enhances security against card crimes, — said Andrey Stepanenko, member of the management board of  Raiffeisenbank, head of retail private individuals directorate. — In the future, chip cards will help Raiffeisenbank realise various high-tech projects for its customers".

All cards with chips will bear the standard servicing fees of the bank. Cardholders of magnet-stripe-only cards will receive new chip cards when their old ones expire.