Posts Tagged ‘Chip Card’

What You Need to Know About Your EMV Chip Card

emv-credit-marketing-guide-1

 

Does your Credit or Debit Card look a little different?

PFCU recently began sending out EMV Chip Cards to our members with VISA® Credit Cards, and will soon begin issuing them to our members with Debit Cards. Just what are these cards, and how do they differ from the cards we’re all used to? One big advantage is a decrease in risk from data breaches like those that occurred at Home Depot and Target recently.

 

 

Check out this helpful video.

Here is some helpful information on the cards from our Ann Davidsom, VP of Risk Consulting at our partner, Allied Solutions:

Chip Card Facts for Consumers

• For cardholder protection, the mini computerized chip on the card uses a dynamic card verification value (dCVV) that changes with each transaction. This will help prevent fraudsters from being able to perform a subsequent card authorization.
• Make your chip card the payment of choice to help reduce the risk of card fraud.
• Protect your card or card number from unauthorized activity and don’t let your card out of your possession.
Using Chip Cards
1. Check to confirm your card has chip technology.
2. If your card has a chip on it, don’t swipe the magnetic stripe if the point-of-sale device is chip enabled.
3. Look for the card insert below the PIN pad on the card reading device to insert your chip card into.
4. Once your card is inserted, do not remove it until the sales associate or the machine says it’s approved.
5. If you were assigned a PIN with your chip card, enter your PIN after you have inserted the card. Remember, do not pull your card out until the transaction is approved.
6. If a PIN is not assigned to your chip card, insert your chip card and allow the sales associated to perform an authorization.
7. Swipe the card on the card reader if the merchant’s device is not chip enabled.

As new technology is introduced, PFCU will integrate it into our products and services to keep our members safe.

We’ve been doing it since 1935.