Most Singapore consumers are aware of the need to activate their credit and debit cards for overseas magnetic-stripe purchases, according to a joint survey carried out by The Association of Banks in Singapore (ABS) and Visa.
The survey, conducted from Sept 4 to 6 , also revealed that 24 per cent of consumers who are aware of the measure actually don't know how to activate their cards.
The poll of 347 people was conducted to gauge consumer awareness of the industry measure to increase security by blocking magnetic stripe-based transactions for overseas purchases starting in October 2013.
"While most customers are aware of the need to activate their cards for personal security, it is also essential that all cardholders understand how to activate their card before travelling," said Mrs Ong-Ang Ai Boon, ABS director. "The last thing travellers need is to be inconvenienced while overseas, unable to access their card or account in order to make purchases."
She said that banks and payment companies like Visa will continue to communicate this to consumers. Those looking to activate their cards before travelling should contact their respective banks for more information.