Chips Cards Are Here

Published on March 12th, 2015

Both credit and debit cards are being issued with microchips on them (also called Chip Cards or EMV Cards). These new chip cards will become very common within the next two years. Chip cards add extra security for transactions you make in stores and will significantly reduce your chances of card fraud due to merchant security breaches that are unfortunately all too common these days. We started issuing Chip Cards in January 2016 when current cards expired.

Chip cards are used a little differently at store terminals than what you are used to today. Instead of “swiping” your card, you will insert the card into a slot to complete the purchase. The slot will commonly be found under the PIN pad on most store terminals. A store cashier will be able to assist you if you have questions.

Unfortunately, not all stores will be able to accept a Chip Card today. In fact, when you receive your new Chip Card, you will notice it will still have a black stripe (called a Mag Stripe) on the back side just like your older cards. This is so you can still use your card at store terminals that are not yet ready to accept a Chip Card. However, you should always attempt to make your purchase using the new Chip Card slot whenever possible. Each time you make a purchase with the Chip Slot, your card information is better protected and will significantly reduce your chances of future card fraud.

Over time, more and more stores will be updated with Chip Card terminals. Within the next few years, nearly all stores will accept Chip Cards and using your Chip Card will become very common. If you have any questions about the card terminal at any particular store, seek assistance from a cashier or customer service employee.

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