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EMV Safety & Security

EMV Safety & Security

Learn more about EMV safety and security from Extra Credit Union.

A chip or EMV card is a card with chip-based technology featuring an embedded microchip to provide enhanced security and protection against fraud. The microchip provides unique information for your card as each transaction is being performed and used at a chip-enabled terminal. Chip cards look almost exactly like old credit cards, with the exception of flat printing and this special microchip to keep your information and account better protected.

The information contained in a magnetic stripe does not change. If someone accessed the information on a magnetic stripe, that person could use the information over and over again. EMV chips, however, generate a unique transaction code each time they’re used. This code can’t be used again, so hackers get very little value out of stealing information from the EMV chips.

The chip card will not prevent all card-related fraud, but is designed to enhance the security of fraud protection. These cards are embedded with a chip that provides enhanced security when used at a chip-enabled terminal, providing unique information for each transaction. This changing information provides added security by making the card harder to duplicate.

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