Payment Card Security Enhancements
HSBC will be introducing a series of new security measures to better safeguard our cardholders against any potential fraudulent activity.
These will be implemented progressively and are in addition to existing measures put in place to monitor and detect unusual/suspicious card usage.
These new security measures are:
1. Replacing magnetic stripe-only cards with EMV chip cards
2. Introducing activation procedure for new / replacement / renewal cards
3. SMS transaction alerts for purchases exceeding a pre-defined value threshold
4. One-Time-Password (OTP) for secured e-commerce transactions
For the measures to be effective, we request all our cardholders to provide us with their current contact information by completing the change of personal particulars form and mailing it back to us. Or if you're a Personal Internet Banking (online@hsbc) customer, you may change your contact details online via online@hsbc.
Step 1: Click on 'Services'
Step 2: Click on 'Update Personal Information' or 'Update Correspondence Address'
Step 3: Please make your changes
1. Replacing magnetic stripe-only cards with EMV chip cards
EMV chip cards are safer than magnetic stripe cards and are less susceptible to card cloning due to the microprocessor chip embedded in the card that uses cryptographic encryption to prevent its contents from being replicated.
Replacement for all magnetic stripe only HSBC credit cards will commence from June 2010 and should be completed by 31st December 2010. All magnetic stripe only HSBC debit cards will be replaced with EMV smart chip cards by end of June 2011.
EMV chip cards are compliant with the Monetary Authority of Singapore’s enhanced standard of data security.
Click here for more details.
2. Introducing activation procedure for new / replacement / renewal cards
With effect from 29 March 2010, you will need to activate your HSBC credit and debit cards prior to first usage to prevent unauthorized use of your new / replacement / renewal cards, should it be intercepted or stolen in the mail.
Click here for more details.
3. SMS transaction alerts for purchases exceeding a pre-defined value threshold
With effect from 29 March 2010, an SMS transaction alert will be sent to you each time a transaction performed on your HSBC debit card, bearing an amount greater than the threshold amount maintained with the Bank, is approved. The SMS transaction alert will be sent to the mobile number stored in the Bank’s records. This SMS transaction alert service is provided free for your banking convenience and security.
For HSBC credit cards, this SMS transaction alert service will be made available by September 2010.
Click here for more details.
4. One-Time-Password (OTP) for secured e-commerce transactions
With effect from September 2010, all HSBC credit cardholders will be required to enter a One-Time-Password (OTP) for internet transactions performed at participating online 3-D Secure (3DS) merchants, before the transaction can be approved. This One-Time-Password (OTP) will be sent via a SMS to the mobile number stored in the Bank’s records.
Cardholders will be able to identify participating 3-D Secure (3DS) merchants by the Verified By Visa (VBV) and MasterCard SecureCode logos hosted on the merchant website.
Click here for more details.
If you have other enquiries, please call our 24hour Customer Service Hotline at 1800 HSBC NOW (4722 669) (Singapore) or on CALL COLLECT at (65) 6472 2669 (overseas). We would be glad to help you.
