Butterfield Begins Issuing Contactless, Chip and PIN Debit Cards for Personal Customers
Hamilton, Bermuda—29 August 2018: The Bank of N.T. Butterfield & Son Limited (“Butterfield” or the “Bank”) is excited to announce that it has commenced the mass reissue of its Debit Mastercard Cards with both “Chip and PIN” technology and the contactless “RFID” payment technology. This means the security of the Card has been enhanced and you now have the option of a quicker checkout process. These improvements help both cardholders and merchants with minimising fraud.
Adding to its already existing “Chip and PIN” Cards suite, your new Debit Card from Butterfield will also provide you with the capability of making a payment by tapping your card against the contactless point-of-sale (POS) terminal so that your payment is processed faster. The Card will continue to display the magnetic stripe as a payment option for merchants that do not process “Chip and PIN” or contactless transactions.
To make purchases at merchants who are equipped with POS terminals that support “Chip and PIN” technology, Cardholders must insert their Credit Cards into the Chip-enabled terminal, confirm the amount of the transaction, and authorise the transaction by entering their PIN on a keypad. To make purchases using the “RFID” or “Tap and GO™” feature, you must lightly touch your card against the POS terminal. You will hear a beep to confirm that the transaction has been processed.
Peter Jackson, Senior Vice President, Group Head of Card Services at Butterfield said, “We are pleased to now provide this enhancement in fraud protection to our Debit Card clients. As we see an increase in Card fraud, we anticipate that these changes will help reduce it significantly.”
All customers that currently hold a Butterfield Debit Card will be mailed a newly enhanced card. If your mailing information has changed, please visit any Butterfield Banking Centre to update your details to ensure that you receive your new card. Cardholders who have already selected PINs for their Butterfield Debit Cards (for use at ATMs) may continue to use those same PINs with their new “Chip and PIN” Debit Cards for POS transactions.
In the near future, Butterfield will be updating all of its Cards to be equipped with the option to pay using the contactless “RFID” payment technology.
Notes to Editors:
This Release does not constitute an offer to sell securities, or a solicitation of an offer to buy securities, in any jurisdiction, including without limitation the United States of America. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. A public offering of securities in the United States, if any such offering is made, will be made by means of a prospectus that may be obtained from The Bank of N.T. Butterfield & Son Limited (“Butterfield”) containing detailed information about Butterfield and management, as well as financial statements.
Butterfield is specialist provider of international financial services. The Butterfield Group offers a full range of community banking services in Bermuda, and the Cayman Islands, encompassing retail and corporate banking and treasury activities. In the wealth management area, the Group provides private banking, asset management, investment advisory and personal trust services from its headquarters in Bermuda and subsidiary offices in The Bahamas, the Cayman Islands, Guernsey, Switzerland and the United Kingdom. Butterfield also provides services to corporate and institutional clients from offices in Bermuda, The Bahamas, the Cayman Islands and Guernsey, which include asset management and corporate trust services.
Butterfield is publicly traded in Bermuda, and its shares are listed on the Bermuda Stock Exchange. Butterfield’s share price is published daily in The Royal Gazette (www.theroyalgazette.com) and is also available on Bloomberg Financial Markets (symbol: NTB BH) and the Bermuda Stock Exchange website (www.bsx.com). Further details on the Butterfield Group can be obtained from our website at: www.butterfieldgroup.com.