You may or may not have heard about EMV Chip Cards, so in anticipation of their arrival, we want to ensure our members get acquainted with the new technology.
What are Chip Cards?
Chip Cards are payment cards, such as your debit and credit cards, which have an embedded chip as well as the typical magnetic strip used to make purchases. The embedded computer chip is used as a part of the transaction process and is designed to increase protection against fraud.
What is an EMV Chip Card?
EMV stands for Euro MasterCard Visa, a global card payment standard, currently being used in over 80 countries. There are over 3.4 billion chip cards issued across the globe.
Am I getting a Chip Card?
Yes, the adaption in to Chip Card technology is accelerating in the US between 2015 and 2017 in order to help combat face to face fraud and Chaco Credit Union has been working diligently behind the scenes to ensure we are ready to provide new cards to our members over the coming years. Chaco CU will be converting ALL credit and debit cards to EMV Chip cards by 2017, so please be aware that your fresh new card will be coming.
Chaco will continue to educate you about the security of chip cards, how to activate your chip card, and how to use your chip card. If you would like to learn more today, gochipcard.com has created the following information:
Click Here To Learn More About Chip Cards