This trust will be eroded if a bank fails to do so and has no mechanisms is place to prevent the excesses we saw in the years before the 2008 crisis. And how serious this loss of trust can be is evident, for to this very day we are still working hard to restore trust in the financial sector.
One of your priorities should be an information campaign to ensure that customers are properly informed on how they can perform POS transactions safely and securely, as well as the possible risks involved. Customers must also be informed about all applicable fees associated with the use of other networks’ POS terminals, in accordance with existing BSP regulations on e-money and consumer protection.