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EMV Chip Protection

EMVLock
FFCCU is pleased to announce that we are one of the first financial institutions in northeast Ohio to offer EMV chip protection to its members. EMV technology uses a microchip on your credit card to encrypt your financial information. It’s more secure than just the magnetic strip that’s on the back of your credit card now. It’s verified at a point-of-sale terminal, just like a normal credit card. This advanced technology makes it possible to have a much stronger form of encryption, which makes your data more secure.

 

Here are some quick Q’s and A’s about EMV chip-enabled cards:

What is an EMV chip-enabled card?

Your card contains an embedded EMV microchip. This chip holds information that is encrypted, making it extremely difficult for the card to be copied or counterfeited. Rather than swiping your card, you will insert your chip card into an EMV-compatible terminal and type in a pin code to complete a transaction. In addition to the embedded microchip, your card still has a magnetic stripe on the back. This ensures you will still be able to make purchases by swiping your card at merchants who have not yet switched to chip-enabled terminals.

Why are we moving to this type of card?

EMV chip-enabled cards have been the standard in Europe and many other countries around the world and are becoming a new standard in the United States. The chip technology provides enhanced fraud protection, as the card is now nearly impossible to duplicate. It also offers global acceptance, making it easier on those who frequently travel internationally to continue using their regular cards for payments.

How does chip technology protect my information?

Every time you use your card at a chip-enabled terminal, the embedded chip generates a unique transaction code. This prevents stolen data from being fraudulently used.

Does this change the process of using my card?

Yes. Instead of swiping your card or handing it to a merchant, when making a transaction at a new EMV-compatible terminal, you’ll need to insert the card in the terminal and leave it there until the transaction is complete. If you remove the card too soon, the transaction will end and your purchase will not be processed. Here’s how it works:

1. Insert the chip portion of the card into the terminal with the chip facing up.

2. Follow the prompts on the terminal screen.

3. The terminal will display the purchase amount.

4. When your transaction is complete, you will be prompted to remove your card.

5. REMEMBER TO TAKE YOUR CARD.

Additional Frequently Asked Questions.

If you need additional assistance, please contact us at 216.621.4644.

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