Beginning in March 2016, TNConnect is transitioning our members’ debit cards to EMV (Europay, MasterCard®, Visa®) or “chip” cards. EMV chip cards are more secure against fraud than regular magnetic stripe cards and are currently used in more than 80 countries.
Chip cards and their terminals work together to keep your in-store payments safe. During a transaction, a one-time code is created in order to approve the transaction, making it nearly impossible to replicate in a counterfeit card.
Another benefit – they are simple to use! With EMV, you no longer swipe. You actually insert the chip end of the card into the terminal where it will stay briefly for the transaction. Check out this video for a demonstration: [youtube]https://youtu.be/ZUhHu7SGXRE[/youtube]
This is another way your Credit Union is protecting you against credit card fraud. For more information, give us a call today at (865) 688-2424.
Things to remember:
- Large merchants will be the first to replace their old terminals with chip-activated ones, with smaller merchants to follow later.
- Use your chip card wherever Visa is accepted. Your card will also have a magnetic stripe. You will still be able to swipe your card for merchants that haven’t transitioned to EMV terminals yet.
- You can still use it online or over-the-phone as usual.
- If you swipe your card at a chip-enabled terminal, it will prompt you to insert the card in the chip slot.
- Whether you insert or swipe your card, you are always protected from unauthorized transactions with Visa’s Zero Liability Policy. Visa Zero Liability policy covers U.S.-issued cards only and does not apply to ATM transactions, PIN transactions not processed by Visa, or certain commercial card transactions.