EMV Chip cards and terminals work together to protect in-store payments. 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.
These chip cards are not only more secure, but they are also simple to use. If the retailer has a chip-enabled terminal, simply insert the debit or credit card face up in the terminal. The chip card remains in the terminal while the transaction is processed. To authorize the transaction, just follow the prompts on the terminal. You'll be prompted for a signature to complete the purchase.
When traveling internationally, on rare occasions, you may be asked to provide a PIN. Should this occur, just enter the PIN assigned to your card. Remove the card from the terminal once the transaction is completed. If the retailer is not equipped to read the chip card, just swipe the card. For transactions made over the phone or online, nothing changes
What is an EMV chip?
A microprocessor chip embedded in your card that securely stores and transfers data. EMV
stands for Europay, MasterCard ® and Visa ® after a joint effort between the three to ensure a
secure and global way for MasterCard and Visa to be accepted worldwide.
How can I get a debit or credit card with an EMV chip?
All newly issued DSFCU debit and credit cards currently will come with chip technology. If you have a DSFCU debit card that does not contain the EMV chip, once your current card expires, the new card you will receive will contain the chip.
Where can I use the chip card?
Use your chip card just about anywhere, with over 130 countries around the world including, Canada, Mexico and the United Kingdom already using the chip technology you can travel the world and use your card anytime, anywhere.
Are chip cards secure?
They sure are. Chip technology has kept the bad guys away for over two decades and is becoming the security standard in many countries around the world. With this special process we are able to identify that the card is authentic, which makes it more secure and more difficult to counterfeit or copy. Keep in mind, that if you notice any suspicious activity on your account give us a call and notify us immediately.
Will chip cards prevent all fraud from happening?
No. The bad guys are out there and continue to look for ways to commit fraud. Chip cards provide an additional layer of protection at chip-enabled terminals, on top of the fraud monitoring you already get.
What information is contained in a chip-enabled card?
The chip contains information required to authenticate, authorize and process transactions. This is the same type of information already stored in the magnetic stripes, but the chip uses a much more secure platform. No personal information about your account is stored on the chip.
What is the benefit of a chip-enabled card?
Security. It’s nearly impossible for thieves to create counterfeit EMV chip cards. That’s because these chips encrypt data differently for each transaction (dynamic authentication). Magnetic stripes provide the same data (static data) each and every time you conduct a transaction. Fraudsters have access to inexpensive means of making counterfeit versions of magnetic-stripe–only cards. In addition, chip-enabled credit cards are a standard transaction method around the world, so having this feature makes transacting abroad much easier.
Where can I use my chip-enabled card?
Your card will work anywhere Visa ® is accepted. Because some merchants will be slower to accept chip technology, your card still includes a magnetic stripe for use in traditional terminals.
With a chip-enabled card, do I still need to notify DSFCU before I travel away from home?
Yes. To help ensure that legitimate purchases are quickly approved, please give us advance notification before you travel out of state.
Why does my chip-enabled card still have a magnetic stripe?
Some merchants will be slower to accept chip technology, so cards with EMV chips will still include a magnetic stripe for use in traditional terminals.
How do I use my chip-enabled card at checkout?
Merchants who accept cards with chip technology provide terminals for chip-enabled cards. If you swipe your card at an active terminal with the magnetic stripe, it will prompt you to insert your card. To conduct a transaction, just follow these easy steps:
1. Rather than swiping your card, insert it into the terminal, chip first, face up and leave the card in the terminal while your transaction is being processed.
2. Follow the prompts on the screen and sign the receipt or enter a PIN.
3. When the transaction is complete, the terminal screen will prompt you to remove your card. Remember to take your card with you.
Will I be required to use my PIN?
Your card will continue to work for both PIN and Signature transactions just as it has in the past. However, depending on the merchant, you may find you are prompted to use your PIN more often than in the past when purchasing with your card.