(800) 245-0433 PO Box 60651, Montclair, CA 91763

Little chip. Big protection.


The same great Visa® you’ve come to love will soon have a tiny improvement about to make a huge difference in identity theft protection. This difference will be in the form of a newly integrated EMV Chip – a state of the art technology designed to take away the security risk of traditional transactions.

We will start rolling out UMFCU Visa® Cards with new EMV Chip card technology starting in October 2015 and will distribute them as member cards expire. UMFCU Debit Cards will get the new EMV Chip at a later date, which we will announce soon.

What is an EMV Chip?

An EMV chip takes away the security risk presented by traditional magnetic strip cards, instead using a tiny chip that works by creating a unique one-time code every individual transaction you make with your debit or credit card. This feature makes the card virtually impossible to duplicate in counterfeit cards, helping to reduce in-store fraud. This way, you can have the confidence to pay and be paid anywhere.

So How Does It Work?

Smarter Technology

A computer chip securely stores the card data that currently resides on the magnetic stripe. This makes it nearly impossible for a criminal to create a counterfeit EMV chip card.

Unique Cryptogram
The computer chip enables more secure processing by producing a one-time use code for each transaction

Mobile Shopping
EMV technology will also enable a one-time use code for mobile transactions and support other security innovations like tokenization.

Used Worldwide
There are approximately 2.4 billion EMV chip cards in circulation across 130+ countries and 36.9 million terminals active worldwide, ensuring you can use your account conveniently wherever you travel.

How to Use Your EMV Chip Card

Activate Your Card

After receiving your new card, activate it by following the instructions listed on the card and sign the back.

Insert Card

Instead of swiping, you’ll insert your card into the terminal, chip first, face up.

Leave the Card in the Terminal

The card must remain in the terminal during the entire transaction.

Sign the Receipt or Enter a PIN
Either sign the receipt or enter the PIN to complete the transaction.

Remove Your Card
When the purchase is complete, remember to take your card with you.

Frequently Asked Questions

What does EMV stand for?
EMV stands for “Europay, MasterCard, Visa”, the reason being because the EMV Chip was designed to address the ever-growing amount of fraudulent transactions happening globally. Instead of having each credit card company come up with their own solution, these three companies came together to facilitate a solution that would be accepted worldwide. Thus the EMV Chip was born.

How will my transactions change?
As a “smart card” user, you won’t see many changes in how you make everyday purchases. In the short term, card issuers will include both the microprocessing chip and the magnetic strip technologies on newly issued credit and debit cards. UMFCU will be issuing you the new EMV Chip card when your current card expires.

What other security features does Visa use to keep me safe aside from the EMV Chip?
Visa’s Zero Liability* Policy guarantees that you won’t be held responsible for unauthorized charges made with your account or account information. You’re protected if your Visa credit or debit card is lost, stolen or fraudulently used, online or offline.

Will my card still have the traditional magnetic strip so I can use it if a merchant does not yet accept EMV Chip cards?
Yes. Your card will have both the EMV Chip AND a magnetic strip, so you can use it at ATM’s and merchant terminals that have not been updated to accept chip based cards.

What is the card called?
The technology goes by many names at present, so watch for any of the following as the cards become more prevalent:

I am a current UMFCU Cardholder. Will I be issued a new card with this technology?
We will replace your card at the normal reissue time. For now, continue to use your current card until it expires. However, if you are traveling (especially abroad) and would like to update your card now, we will reissue a card for you if you let us know. There will be no replacement fee charged for replacement cards.

Resources

Smart Card Alliance
Federal Reserve Board
Federal Trade Commission
ATM Industry Association
CreditCards.com
Electronic Funds Transfer Association


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