Spend with Security
A chip card is a credit or debit card with a traditional magnetic stripe and an embedded microchip for added security. The embedded microchip provides unique data specific to your card and the transaction being processed every time you use it at chip-enabled ATMs or terminals. So, you are better protected from criminals.
Chip cards are already being used in most countries around the world, resulting in a reduction in card fraud. This improved security is why chip cards are coming to the U.S. Currently, the chip cards will be issued with a chip on the front of the card and the familiar magnetic stripe on the back of the card. Chip cards will continue to be compatible with existing non-chip capable ATMs and terminals.
The Chip Card is Simple to Use:
Step 1: Insert your chip card into the ATM or point of sale terminal then follow the instructions on the terminal. It is important to leave your card in the terminal until the transaction is complete. If you remove your card too soon, the transaction will end and your purchase will not be processed.
Step 2: The terminal may require you to input your PIN or sign your sales receipt to complete your purchase.
Step 3: For sales transactions, the terminal will display your purchase amount.
Step 4: When your transaction is complete, it is important to remember to remove your card.
It is important to always try the new method first because it is more secure. If the merchant/retailer does not have the EMV chip card capability, then you can use the traditional-swipe method.
This new method of using your chip card is also known as “dipping.”
FAQ’s About Your New Chip Card
What is a smart chip or EMV chip card? Your chip card comes with an encrypted microchip embedded in the card. The microchip provides and enhanced layer of security to your transactions. EMV stands for Europay MasterCard VISA.
How is the chip card more secure? The embedded microchip provides unique data specific to your card and the transaction being processed. These security features make your new chip card extremely difficult to counterfeit.
Why is my card being upgraded to a chip card? Chip technology is already used in other countries and now is coming to the U.S. Your new chip card provides an extra level of security and is easier to use at places already using chip technology.
Can I use my card for everyday transactions or at non-chip terminals? Yes! Your chip card will also have the magnetic stripe on the back so you can continue using your card at ATMs and point-of-sale terminals while merchants in the U.S. are transitioning to the new terminals.
How will my chip card be used at a drive-thru (McDonalds, Starbucks, etc.) or restaurant? As of right now, these businesses will process the drive-thru transactions without any changes. They will swipe your chip card using the traditional swipe method with the magnetic stripe. This is also true for sit-down restaurants – although in the DFW area some restaurants are using the table top kiosk that is a chip card capable device.
Will I be able to use my chip card at the gas pump? Yes! You will use the traditional swipe method at the gas pump. The chip capable technology for gas pumps will be rolled out in the next year or two.