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What Are EMV Chip Cards?

Already popular in Europe, EMV chip cards are being introduced in America. EMV (Europay, MasterCard, and Visa) chip cards are credit and debit cards that have a microchip embedded in the front that encrypts your information; keeping your personal information more secure. An encrypted number means that a merchant will not have your personal information. With each new purchase, your card will have a different encrypted number assigned to it. New encryption technology makes chip cards significantly harder to forge than traditional magnetic stripe cards because the magnetic stripe does not change which means it can be duplicated over and over again.emv chip card


How Do I Use My Chip Card?

If a merchant has a chip terminal you will be able to “dip” (insert) your card into the bottom of the terminal then sign to authorize your purchase. While making a purchase, you must keep your card in the machine until the transaction is complete. If the merchant doesn’t have a chip terminal you can simply swipe your card as you are used to doing. Making online and over the phone purchases with your new card remains the same as always, as do ATM transactions. Because of the popularity of chip cards around the world you will be able to use your card internationally as well as domestically with few restrictions.  The first round of chip credit cards will have a chip and signature option, while in parts of Europe EMV technology has been around for years and they already use chip and PIN technology. As chip cards are a fairly new thing in the States many merchants do not have the technology for chip and PIN cards, although this will likely change in the coming years.


When Will I Get My WCFCU Chip Card?

Members will receive their EMV chip cards when their old cards expire and we reissue new ones. We will have more information available in the near future. Winslow Community Federal Credit Union always has the financial safety of our members in mind and hopes to provide the best technology for you, our members!

For more information read the answers to 8 frequently asked questions about EMVs on