Guru Speak

However, one increasing impediment to the uptake of debit cards is the security of the card itself, with the incidence of carddata theft increasing in recent times.

ATM-card thieves are like modernday ninjas, altering ATMs with stealthy technology to skim data from unsuspecting cardholders. They then use that data to create a fake, or "cloned", card with their details and then run up charges on the account.

Because the crime is difficult for consumers to notice initially, the incidence and concern for card theft has rapidly increased.

However, the future of personal banking security is not totally lost! An innovative globalstandard smartchip card has recently been introduced to Thailand and will provide an added layer of security on everyday ATM/payment cards - and, importantly, help put to rest consumer fears of being a victim of card fraud.

When combined with specially upgraded ATMs, the improved card will help people take the next confident step towards realising a relatively cashless society.

Innovative smartchip cards will also change the way promotions work in Thailand. In addition to more secure payments and ATM transactions, debit cards will be able to be used to store spending information on the card and calculate rewards for loyalty programmes.

The days are well behind us where people's wallets need to be stuffed with excess cards and wads of cash. We may never live in a wholly cashless society, but with developments like the new smartcard technology, we are definitely moving towards an era in which cash is seen as secondary to the card.