What is EMV?
EMV, which stands for Europay, Mastercard and Visa, is the functionality contained in the small microprocessor “chip” which is embedded in the card plastic itself. This creates what is referred to as “smart cards” or “EMV cards” or “chip cards” – which all refer to the same type of card.
How is a chip-enhanced card different from a magnetic stripe card?
A chip-enhanced card contains an embedded microchip. The chip holds encrypted information, making it extremely difficult for the card to be copied or counterfeited. Rather than swiping the card, you will insert your card into a chip-enabled terminal to complete a transaction. In addition to the embedded microchip, the chip-card has a magnetic stripe on the back, and purchases can still be made by swiping the card at merchants that have not yet switched to chip-enabled terminals.
Are chip cards new?
Although chip cards are relatively new in the U.S., they have been used in other countries for many years. In some countries, particularly in Europe, chip cards are the standard.
Why was my card replaced with a chip card?
- Replacing your card with a new chip-enhanced card is one way we can help simplify your purchase experience as technology continues to change.
- We value your financial security. Your new card comes with advanced security because the chip technology makes it difficult for a fraudster to counterfeit your card.
Where can I use my chip card?
Use your chip card at the exact same merchants you do now, by inserting the card into terminals that are chip-enabled or swiping your card at merchant locations that have not yet switched to chip-enabled terminals. You can also continue to use your card as you do currently for online and telephone payments.
What are the benefits of a chip card?
- Advanced security due to the chip technology that makes it nearly impossible for a fraudster to counterfeit your card.
- Ability to make payments at terminals outside of the U.S. where chip cards are the standard.
What should I do with my existing card?
Once you have activated your new card, please destroy your existing card.