What is a Chip Card?
Chip card is a regular sized credit card that contains a micro integrated circuit or a chip which enables a greater level of security compared to the standard magnetic stripe card. In addition chip card can hold a large amount of data compared to the standard card.

Why have we introduced the chip enabled credit Card?
chip enabled credit cards provides you greater security against skimming, which involves the copying of private information from the magnetic stripe on your card. Unlike the magnetic stripe, the micro processor in the card can securely store encrypted information and each transaction done by a chip card generates a unique transaction ID making it difficult to counterfeit the card.

In addition chip technology has much greater capacity to store information and programs than the current magnetic stripe technology which will further simplify the card validation process.

At the end of the day, chip cards provide Greater peace of mind to Cardholders.


chip cards are not new to Sri Lanka. So how do we claim that we introduced COMPLETE chip technology?
Yes, there are other banks that already issue chip cards at present. But to ensure 100% security of chip technology having a chip enabled merchant terminal is a must. If the merchant terminal is not supported by chip technology, the transaction would be completed as a magnetic stripe transaction as the card carries both the magnetic stripe and the chip.

Therefore Sampath Bank has introduced chip card acceptance technology to the merchant network enabling acceptance of chip cards for the first time in country. We have started converting our islandwide Terminal network of 3,000 merchants to accept chip cards, and expect to complete the project in 2009.

When will chip cards be issued to existing Cardholders of Sampath Bank?
We have already commenced issuing chip Cards, to our Visa Platinum card base. The process will be extended to Gold and Silver card holders in the year 2009.