Navy Federal Credit Union | MakingCents: Chip Card Security

What’s the latest and greatest in anti-fraud technology? EMV chip cards. Chip cards look like a traditional credit card but in fact there’s a small micro chip on the front. Using cutting-edge encryption technology the chip offers protection from fraud by creating unique data for each transaction. Traditional magnetic strip cards store static data which can be replicated and used to create counterfeits easily. Most chip cards used in the U.S. require a signature for verification just like magnetic strip cards do. To use your card at a chip-enabled reader insert your card Follow directions to complete the transaction Remove it from the reader when prompted. If a retailer is not yet equipped with a chip card terminal swipe and sign your name as usual. For transactions online or over the phone follow the same process you use today. Feel confident in your new card. It’s easy to use, protects you from fraud, and offers greater acceptance worldwide

Leave a Reply

Your email address will not be published. Required fields are marked *