Transactions halted for over 8 million magnetic stripe ATM cards.

PTQ - From July 1st, 2025, banks will officially cease supporting transactions for ATM cards with only magnetic strips. Customers are advised to quickly switch to chip cards to ensure uninterrupted transactions and to benefit from the free conversion policy. Simultaneously, the payment infrastructure is ready to support the digitalization of cards.

From July 1st, transactions using magnetic stripe ATM cards will be discontinued.

With over 100 million domestic NAPAS cards, commonly known as ATM cards, having been issued, the transition from magnetic stripe cards to chip cards has been implemented by banks since 2019. As of May 2025, the market still has approximately 8 million magnetic stripe cards; however, only about 14% of them are still generating transactions, corresponding to about 8.4% of ATM transactions and 1.3% POS transactions recorded through the NAPAS system.

In recent years, card transactions have tended to decrease, with users increasingly preferring payments via bank accounts, e-wallets, or QR codes. Besides completing the transition to chip cards, banks are also accelerating the digitalization of card services. According to Napas, to keep up with this trend, the institution has launched Apple Pay and Bankpay services for its domestic Napas cards, making payments via virtual cards integrated directly into smartphones more convenient and faster than ever before.

Source: https://quangngaitv.vn/dung-giao-dich-hon-8-trieu-the-atm-dai-tu-6503684.html