Person Using Credit Card with EMV Technology for Fraud Protection

Oct 02, 2015 / Visa Cards

New EMV Chip Tech: How it Protects You from Fraud

It just got a little safer for you to use your credit card.

After gaining popularity in Canada and Europe, the availability of EMV Chip technology is growing throughout the US. If you have a Utah First Platinum VISA, your next card will be protected by Chip technology.

Here’s how it works and, more importantly, how it creates another line of defense to protect you from fraud.

What is it?

The EMV Chip, which stands for EuroPay, MasterCard and Visa, provides an extra line of defense against would-be thieves and credit card skimmers.

The Chip is a small microchip that’s embedded in your credit card. When using a credit card, you’ll still be asked to verify with your signature. When introduced with debit cards, you will use Chip and PIN technology when making a purchase.

How does it work?

EMV Chip technology keeps you safe by generating a one-time, encrypted transaction code for each purchase you make. If thieves were to obtain your card data, it would be unusable.

Incorporating more encrypted information into the payment process means that a thief would have to do a lot of extra work to make a fraudulent purchase. Chip and PIN isn’t fool-proof, but it does provide an added line of defense for your account – as well as added peace of mind.

What does this mean for you?

Shopping is as easy as always, and now your card data will be more secure when you make a purchase through a chip-enabled terminal. If a store at which you shop doesn’t offer chip-enabled technology, you can still make a purchase with your credit card the old-fashioned way: just swipe the magnetic strip and sign for your purchase.

Utah First keeps you protected by offering EMV Chip technology in all our new issued credit cards. And Chip and PIN isn’t the only benefit to opening a line of credit with us – we also offer low, flat rates and a generous rewards program. Apply online, call us at 800-234-0729 or visit the nearest branch to apply for your card.