A simpler, more secure way to pay.
Banks and card issuers will be soon rolling out new chip card technology that will help protect your card from unauthorized use. We’ve put together some of the more frequently asked questions to help you gain an understanding of the new technology.
What is a chip card?
A card with chip technology provides enhanced security and protection against counterfeit fraud when used in a chip-enabled merchant terminal or ATM. The chip encrypts information to increase data security when making transactions at a chip-enabled terminal.
What are the benefits of a chip card?
Security. When purchases are made using the chip feature, a unique one-time code is generated behind-the-scenes that is needed for the transaction to be approved - a feature that is virtually impossible to replicate in a counterfeit card.
Global acceptance. Chip technology has been around for over two decades and is already the security standard in many countries around the world. It will soon become the standard in the U.S. as well.
Simple to use. Chip cards are easy to use. At chip-enabled terminals or ATMs, simply insert the card and follow the prompts. If the terminal or ATM is not chip-enabled, you can use the magnetic strip on the back of the card just as you’ve always done.
How do I use a chip card?
- For chip-enabled terminals:
- Insert your chip card face up in the terminal. The chip card will remain in the terminal while the transaction is processed.
- Sign or enter your PIN if prompted. Some transactions may not require either.
- When the transaction is complete, remove your card.
- If a chip-enabled terminal isn’t available, just swipe as you normally would.
- For transactions made over the phone or online, nothing changes.
Where can I use my chip card?
Many merchants, across the U.S. are beginning to accept chip card transactions and this will continue to grow within the coming years. Chip technology is already used in over 130 countries around the world, including Canada, Mexico and the United Kingdom, so you'll enjoy greater acceptance when traveling internationally. Your chip card will still work at terminals where only magnetic stripe transactions are accepted.