All current Merchants Bank MasterCard Debit Cards have been reissued as EMV Chip MasterCard Debit Cards. Cards were mailed the last week of October and first week of November. You are encouraged to activate and use your new card(s) by the end of November. All existing (non-chip debit cards) will be deactivated as of December 1.
Why the change to chip technology? With this change, you’ll be able to take advantage of the security features of EMV chip technology, which can help prevent fraudulent transactions.
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.
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:
Step 1: Insert the chip end of your card into the terminal with the chip facing up.
Step 2: Keep the card in the terminal during the transaction and follow the prompts on the screen.
Step 3: Take your card when prompted. It’s that easy!
Do all stores accept EMV chip cards?
Not yet, but the trend is growing. You can still make a purchase at a store that does not yet accept chip cards by simply swiping 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.
If I don’t have a Merchants Bank Debit Card, how can I request a debit card with chip technology?
Just send us an email to let us know you’re interested. If you’d like 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 EMV cards, contact our Credit Card department.