New York S04338 mandates that ATM machines release cards with EVM chips before dispensing cash or receipts.

New York S04338 amends the banking law to require ATM machines to release ATM cards with EVM chips before disbursing cash or printing a receipt. The bill defines an EVM chip as a data storage chip implementing the Europay, Mastercard, and Visa technical standard. It also defines related terms such as "chip card" and "card dipping." The provision takes effect 180 days after the law's enactment and applies to any ATM installed after that date.

New York S04338 mandates that ATM machines release cards with EVM chips before dispensing cash or receipts.

New York S04338 amends the banking law to require ATM machines to release ATM cards with EVM chips before disbursing cash or printing a receipt. The bill defines an EVM chip as a data storage chip implementing the Europay, Mastercard, and Visa technical standard. It also defines related terms such as "chip card" and "card dipping." The provision takes effect 180 days after the law's enactment and applies to any ATM installed after that date.