OREANDA-NEWS. August 07, 2013. ProCredit Bank is offering its private and business clients Visa Classic and Visa Business smart cards with integrated chips (microprocessors), which function as mini-computers within the card.

Their main distinctive feature is that, in addition to the magnetic stripe, the card contains a special microprocessor, which provides a new level of security.

The chip is practically impossible to duplicate and this in combination with the PIN confirmation required when making most payments makes transactions even more secure. This however is not the case when making online payments; this procedure will remain unchanged and does not require a PIN.

The main advantages of the chip cards are their greater security against fraud and their period of validity. The chip uses a secure data protection algorithm with no known cases of forgery in Ukraine or abroad. In addition, the new Visa Classic and Visa Business smart cards are now valid for 3 years instead of 1 year, which reduces customer’s costs for card issue, reissue, and account maintenance.

Moreover, a chip card allows for the easy payment of goods and services outside Ukraine, as some sales or service outlets abroad may refuse to accept cards only with a magnetic stripe.