Bill > S04338

This bill amends the New York banking law to introduce new requirements and definitions related to ATM machines and chip-based payment cards. Specifically, the bill defines several technical terms including "EVM chip" (a data storage chip following Europay, Mastercard, and Visa standards), "chip card" (a payment card with an embedded data chip), "card dipping" (inserting a chip card into a reader), and "chip enabled automatic teller machine" (an ATM that reads customer data from chip cards). The key provision mandates that newly installed chip-enabled ATMs must release the customer's card back to them before dispensing cash or printing a receipt, requiring the customer to physically remove their card from the machine's reader. This new regulation will apply to any ATM installed 180 days after the bill becomes law, with the apparent goal of improving transaction security and preventing potential card theft or unauthorized access by ensuring customers actively retrieve their cards during each transaction.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S4338