What is an EMV chip card?
The term “EMV” stands for Europay, MasterCard and Visa – the original developers of chip cards. These cards increase the security of in-person transactions by generating a one-time use code that can only be read by a register enabled to read chip cards. The code is created from the small chip on the front of your card and is hard to counterfeit, which prevents fraud.
How do I know if I have a chip card?
If you have a chip card, you will notice a small chip icon on the front of the card. At this time, Merchants Bank Visa Credit Cards offer EMV chip technology and have the chip icon. If you are a current Merchants Bank Visa Credit Card cardholder, your EMV chip card will be sent to you upon expiration of your current card. New cardholders will be issued a chip card upon credit approval.
Is paying with a chip card different from paying with my other cards?
Yes, making a payment with a chip card is slightly different than the card transactions you are used to. Instead of swiping your card at the register, you’ll simply follow these instructions:
Do all stores accept EMV chip cards?
Not yet, but the trend is growing and if a store does not yet accept chip cards, you can still swipe your card to pay.
What happens if I swipe my EMV chip card instead of inserting it into the register?
The terminal will display a message asking you to insert your card instead.
To learn more about EMV chip technology, contact the Customer Service Representative at your local Merchants Bank.
If you are a business and would like to accept cards, or have a terminal that does not currently accept EMV chip cards, contact our Credit Card department.
Credit cards are subject to credit approval.