FOLLOWING the successful migration of more than 890,000 customers to the safer and more secure Kundu Chip Card, BSP has deactivated all remaining legacy Kundu Magnetic Stripe Cards to further strengthen the security of customer funds and banking transactions.
The Chip Card upgrade provides enhanced protection against card cloning, fraud and unauthorised transactions.
BSP Group GM Retail, Ronesh Dayal, said the transition to chip-enabled technology represents a significant security enhancement and provides customers with modern banking security standards for their card.
“Kundu Chip Cards provide enhanced protection against increasingly sophisticated fraud threats, helping customers bank with greater confidence and security. Over the past 12 months, BSP has successfully migrated more than 890,000 customers to the new Kundu Chip Card, making it one of the largest customer security upgrade initiatives undertaken in PNG.”
BSP acknowledges that some customers may have experienced longer wait times at branches and Card Centres during the migration period due to the significant volume of upgrades being processed nationwide.
“We sincerely thank customers for their patience and understanding throughout this important transition. While some customers may have experienced temporary inconvenience, the long-term benefit is enhanced protection for customer funds and transactions. This migration is a proactive measure designed to reduce fraud risks and provide customers with a safer, more secure banking experience,” Mr Dayal said.
BSP reassures customers that their funds remain safe and secure. The deactivation only affects older Kundu Magnetic Stripe Cards and does not impact customer account balances or ownership of funds.
Customers who have not yet upgraded can continue to visit their nearest BSP Branch or designated Card Centre to receive a replacement Kundu Chip Card and restore card-based access to ATM and EFTPoS services.
In the meantime, customers can continue accessing their funds through BSP Mobile Banking, Wantok Wallet, Internet Banking, Agent Banking services (where available), branch services, and BSP’s extensive network of 400+ ATMs and
11,000+ EFTPoS devices across Papua New Guinea using their upgraded Kundu Chip Card.
“The purpose of this migration is to better protect our customers and their money. This investment in customer security will deliver lasting benefits and greater peace of mind when banking with BSP. While an older Magnetic Stripe Card may no longer work, customers’ accounts remain active, their funds remain safe, and BSP remains ready to assist those who are yet to complete their upgrade,” Mr Dayal added.