News

Almost all Kenyan ATMs now EMV compliant

October 24, 2013

According to the Kenya Bankers Association, 96 percent of Kenya's ATMs have migrated to the EMV standard.

"We are happy to note that more than 96 percent of the ATMs in the market have been upgraded and the remaining machines are earmarked to be certified or phased out before the end of the year," said KBA chief Habil Olaka in a statement reprinted by African tech publication Human IPO.

Banks in Kenya have must make the change from mag stripe to chip cards by March 2014; ATM infrastructure and POS terminals must be compliant by Dec. 31.

The Central Bank of Kenya estimated that electronic fraud resulted in losses of more than KSh1.5 billion ($17.7 million) was lost between April 2012 and April 2013, Human IPO reported.

Read more about EMV.