EMV Cards are a hot topic in the news. That being said, there’s still a lot that the general public doesn’t know about them. We’ve gathered some of the most asked questions, as well as some additional information so you too can be an expert.

What is an EMV card?

An EMV Card, or a chip card, is equipped with a secure computer chip, also known as an EMV chip. The chip produces a one-time code that is used by the merchant to process a payment. Not all businesses in the United States can accept an EMV card just yet, so cards are still being printed with the traditional magnetic stripe on the back. Most merchants who have completed the upgrade will accept both card types while banks go through the process of updating cards.

Why is the industry changing to Chip Cards?

Chip Cards have been used overseas for many years. To date, the industry sees less crime in other countries because fraud is easier with the magnetic stripe. In an effort to reduce fraud, EMV cards are now being issued in the U.S. EMV cards are harder to replicate because of the one-time code that is generated when the card is “swiped” at the pay station. The code only works for one transaction, so it doesn’t matter if it is intercepted at the point of sale. Conversely, if a magnetic stripe is read at the terminal and someone intercepts your information, the crook can take your information and process other payments.

What if I don’t have an EMV card?

You can still use your current card! Merchant terminals are being updated, but they still have the technology to accept a swipe from a magnetic stripe.

I’ve heard that chip cards aren’t “swiped”. What’s so different about the new cards?

Card Terminals are built with the magnetic swipe machine on top and the chip card slot on the bottom. Your chip card will need to be inserted into the bottom of the card reader. The machine should instruct you to leave your card in the machine for several seconds while the code is created and read. The code will be scanned and then you should be instructed to remove your card. 

When will I be able to get an EMV card from Central National Bank?

The card printing industry is busy producing EMV cardstock for just about every bank in the nation, which means there’s a waitlist. We’re on it and hope to have new stock in the spring of 2016. Once the cardstock is in we can begin issuing cards to customers. Hopefully a couple months’ time will also allow merchants time to get terminals upgraded to accept EMV card transactions! 

Bottom line is… Thank you for being patient with us!


EMV Cards – What’s the Big Deal?

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