What is a chip card?
Chip cards are payment cards that have an embedded chip. They offer you the latest technology that provides an added layer of security and greater protection against fraud for purchases made in-store.
What is EMV?
Chip cards are based on a global card payment standard called EMV. The technology is becoming the global standard for credit card and debit card payments. EMV stands for Europay, MasterCard® and Visa®.
What is the difference between EMV, Chip, Smart Chip and Chip Technology?
Nothing. Different companies call it different names but the same technology is used.
Why are chip card transactions more secure?
Chip card transactions offer advanced security for in-store payments by making every transaction unique. And, chip cards are virtually impossible to counterfeit or copy. If the card data and the one-time code are stolen, the information cannot be used to create counterfeit cards and commit fraud.
How do I use my a chip card?
If a merchant terminal is not chip-enabled you would swipe your card as you normally would without a chip. If the terminal is chip-enabled, it will prompt you to insert your card instead. Here are the basic steps:
1. Insert your card with the chip toward the terminal, facing up. Do not remove until prompted. The card should remain in terminal during the entire transaction.
2. Provide your signature or PIN as prompted by the terminal. Some transactions may not require either.
3. When the terminal says the transaction is complete, remove your card.
Can I still use my card in-store if the merchant is not chip-enabled?
Yes. You will swipe your card as you normally would without a chip. It may take all merchants some time to upgrade all of their terminals to be chip-enabled.
Where can I use my chip cards?
Anywhere. Your card will have a chip and a magnetic stripe to accommodate any situation.
Can I use my chip card outside of the U.S.?
Yes. Chip cards will make traveling easier and more convenient. They are widely used in international markets and the technology is becoming the global standard for credit card and debit card payments. A chip card will make it easier for you to transact internationally.
What does a chip-enabled merchant terminal look like?
Chip-enabled terminals have all of the features you are used to with a payment terminal, with the addition of a slot for you to insert your card. The slot is typically located at the bottom or the top of the payment terminal.