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Chip Cards are Coming Soon

chip cards

This month we will begin transitioning our Visa Debit Cards and Credit Cards to EMV chip technology, as part of a global effort to use more advanced technology to better protect your accounts from fraud.

EMV stands for Europay, MasterCard, and Visa: three of the largest payment entities that collaborated and established a new standard for smart payment cards to address the ever-growing amount of fraud resulting from flaws associated with the static design and nature of magnetic stripe cards.

What is an EMV Card?

An EMV or Chip Card has the same look and feel of your current Visa Debit or Credit Cards with the exception of a tiny microchip embedded on the face of the card. The microchip is a small computer that enables the chip to perform real-time authentication, cardholder verification and payment authorization.

The microchip produces a unique one-time authorization code valid for only a single transaction. Unlike magnetic stripe cards the data transmitted from the terminal to the financial institution changes on every transaction, rending this data useless for fraudsters who steal this information to produce counterfeit cards.

Learn even more about this transition & how to use your new card at dayair.org/chipcard.