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EMV Chip Technology

Matt Clay,

January 06, 2016

Managing Your Money

Articles

In the coming months, when you receive a new credit or debit card from Union Bank, you may notice an added benefit on your card in the form of a tiny chip. We’re adding something called EMV technology, which gives the cardholder an added layer of security when using your Union Bank card at EMV chip-enabled retailers.

What’s an EMV Card?

EMV stands for Europay Mastercard Visa®, named after the original organizations that created chip technology. When you receive a new debit or credit card from Union Bank, you will still have that long strip on the backside of your card known as the magstripe, just like you have on your card today. The only difference will be the addition of the chip on the face of your card which is actually a tiny computer chip called a “Cryptogram”, which makes it difficult to counterfeit your card. The Cryptogram produces a unique code for each transaction that is processed in an EMV terminal. And, if you are at a retailer who is not yet chip enabled, you can still use your card just like you do today by sliding the magstripe, which is on the back of the card in the terminal.

How do I use my new EMV Card?

Your new chip enabled card will include the magstripe on the back of the card and it will also have a visible chip on the face of the card. If you slide your card in a chip enabled terminal, you will be prompted to insert your card chip first using the instructions below:

Using your new card in a chip enabled terminal is much different than sliding your card in a magstripe terminal that we typically use today. For example, on a chip enabled terminal, you insert the card and keep it in the terminal throughout the transaction (see Step 1 above). When you insert your card into an EMV enabled terminal, your card number is concealed and a unique code is assigned which makes it difficult to counterfeit a card.

Am I still protected even if I don’t have an EMV Card?

Yes. Visa’s zero liability policy means you won’t be held responsible for fraudulent charges made with your card or account information, even if you don’t have an EMV chip card. You may have heard about the liability shift that happened on October 1st, this year. The liability shift does not apply to cardholders, only retailers.

Questions?

If you have questions about your new Union Bank EMV chip enabled card, please call us at 402.323.1777, or toll-free at 800.297.2837.

If you would like to learn more about EMV Technology:
www.emv-connection.com/consumers
www.emvco.com

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My UBT VISA debit card is being rejected everywhere now. And, I have not received a new one...
Help Please!!!!!!!
I didn't receive any notification that this would be happening..... HELP!!!!

Hi Lisa,
Someone from our Customer Support Team will be reaching out shortly. New cards arrive in plain, unmarked envelopes. So make sure you don't have one of those laying around in unopened mail. Many of our branches also have the ability to issue new cards on the spot. So hopefully we can get you a new card today.

This blog article is for informational purposes only, and is not an advertisement for a product or service. The accuracy and completeness is not guaranteed and does not constitute legal or tax advice. Please consult with your own tax, legal, and financial advisors.