What is EMV chip card technology?
EMV (Europay, Mastercard, Visa) chip card technology is a global collaboration and standard for increasing the security of debit and credit card transactions. A special microchip is embedded in the card, which adds another layer of security to cards when used at a chip-enabled terminal. Simply put, it's a more secure way to pay.
Alpine Bank debit and credit chip cards are now available for your added security.
I got my chip card today. What do I need to do now?
First, please activate your chip card by calling the number on the activation sticker. Activating your chip card cancels your old card, so there is no need to call in to cancel it. However, your old card will automatically be canceled to protect the security of your account, so it's best to activate your chip card as soon as you get it. Click here for details.
Why should I know my PIN? I always choose "credit" during a purchase.
With the new chip card technology, some merchants are only allowing debit transactions, requiring you to know your PIN. If you have forgotten your PIN or would like a new one, please call us for a PIN reset at 800-551-6098.
How will it work?
Using your new chip card will be easy. If a business is chip card capable, you will “dip” your card instead of swiping it. Your magnetic strip will still work for businesses who do not yet accept chip cards. As the U.S. shifts progressively to chip card technology, you will “dip” your card more often.
What are the benefits to me?
Increased security and reduced fraud potential are the biggest benefits of chip card technology. Migrating to a chip card will also make overseas payments much easier since the majority of the world has already migrated to chip card technology.
My business takes credit card payments. What does that mean for me?
As a part of the nationwide effort to reduce credit and debit card fraud in the U.S., the credit card industry has instituted a liability shift which urges businesses to upgrade to the new, more secure chip card technology.
As of October 2015, if you accept debit and credit cards in person and do not have a chip card terminal, you may assume liability for transactions that are found to be fraudulent. In other words, if you accept a chip card, but don’t have a chip reader, you could have to pay for any credit or debit card fraud that occurs in your business.
Are you protected from the liability shift? Alpine Bank offers terminals that support chip card technology and we can help your business process chip card transactions.
If you have questions about the liability shift and the services Alpine Bank offers, please call 1-800-551-6098 and ask for an eBanking Specialist in your area.
Visit our chip card FAQ page.