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RCBC's credit card operations, RCBC Card, were subsequently merged into Bankard, forming the current company. Through RCBC Card, Bankard also started issuing JCB cards. Bankard was two-thirds owned by the Yuchengco Group of Companies and is an affiliate of RCBC.
Barcode Scanner scanning a QR code. The application Barcode Scanner is an Android app, from the open-source project ZXing (short for Zebra Crossing), that allows an Android device with imaging hardware (a built-in camera) to scan barcodes or 2D barcodes and retrieve the data encoded. [2]
The bank was established by Alfonso Yuchengco on September 23, 1960, as Rizal Development Bank, a small development bank in Rizal province. [13] It was later upgraded to a commercial bank upon the approval of the Bangko Sentral ng Pilipinas and, in 1963, began operation as such under its present name Rizal Commercial Banking Corporation (RCBC).
The Chip Authentication Program (CAP) is a MasterCard initiative and technical specification for using EMV banking smartcards for authenticating users and transactions in online and telephone banking.
BancNet was founded on July 17, 1990, as the Philippines' second ATM consortium when the ATMs of eight banks, PCI Bank (later Equitable PCI Bank, now Banco de Oro), Security Bank, Chinabank, RCBC, Allied Bank (now part of PNB), Metrobank, International Exchange Bank (now part of UnionBank) and CityTrust Banking Corp. (now part of BPI) formed BancNet.
The company was founded in 1999 as TransNational Bankcard, Inc. by John Pitzaferro. The company later changed its name to TransNational Payments, Inc. Pitzaferro said he had the idea to create the company after spending 16 years working in merchant services where he witnessed the lack of transparency in the industry. [2]
The format for the bank code and bank account number is country-specific. The technology allows MICR readers to scan and read the information directly into a data-collection device. Unlike barcode and similar technologies, MICR characters can be read easily by humans.
The security level of such a transaction is better than a mag-stripe card, as the chip cryptographically generates a code which can be verified by the card issuer's systems. Contactless EMV cards have two interfaces (contact and contactless) and work as a normal EMV card via their contact interface.