EMV Chip Cards

EMV Chip Cards

EMV Chip Card technology is quickly becoming the global standard for credit and debit card payments.

EMV is named after its original developers (Europay, Mastercard®, and Visa®) This particular form of technology is a payment process using cards that are embedded with microprocessor chips that store and protect cardholder data.

We are replacing our current debit cards with Chip Cards

  • As cards expire, we are gradually replacing them with EMV Chip Cards as a part of our normal card replacement process.

Chip Cards are different

  • Each Chip Card contains a secure microchip that provides strong transaction security features and other application capabilities not possible with traditional magnetic stripe cards.

Chip Cards are more secure

  • Chip Cards increase security and reduce fraud resulting from counterfeit, lost, and stolen cards.

Chip Cards will still work in older terminals and ATMs

  • For now, Chip Cards continue to feature a magnetic stripe so they will work on all payment terminals and ATMs.

There is a difference in how cardholders will use Chip Cards at chip-enabled terminals.

  • Insert or “dip” the Chip Card into the reader. The card stays in the terminal during the transaction, similar to the way some ATMs work today.
  • If you swipe your Chip Card’s magnetic stripe on a terminal turned on to read Chip Cards, the terminal may require you to insert your card into the chip reader.
  • Pocket your card when done. Don’t leave your card behind!
  • Make online purchases with your Chip Card in the same way you use a magnetic-stripe card today.

There are benefits to Chip Cards beyond security

  • Convenience while you travel is one additional benefit. Many other countries have already adopted the EMV standard, so you can use your new Chip Card when you travel and it will work seamlessly with the global payments infrastructure.

Magnetic-stripe-only cards continue to be safe to use

  • Chip Cards offer a higher level of security, but current cards will continue to be secure—especially if you keep your PIN a secret, regularly monitor your card activity and immediately report lost or stolen cards.

The cost of issuing Chip Cards is being covered by the financial institution

  • No additional cardholder fees apply to the new Chip Card.