1. What is a chip card?
2. When will I receive my chip-embedded MasterCard credit card, Member Card debit card and Global Payment /Chequewise card?
3. Will I still have a magnetic stripe on my card?
4. What are the benefits of the new chip card?
5. Where can I use my chip card?
6. How do I use my chip card to pay for a purchase?
7. Do I enter my PIN when using my credit card for internet purchases?
8. Do I use the same PIN for ATM cash withdrawls and when making purchases at chip-reading terminals?
9. Will I be able to use my chip card outside of the country?
10. Does the move to chip mean that the magnetic stripe is not secure?
11.Are chip cards 100% immune to fraud?
12. Can chip cards still be skimmed as long as they carry the magnetic stripe?
13. Exactly what information is stored on the chip?
1. What is a chip card?
A chip card, or "smart card", is a card product containing a microchip embedded right into the plastic. It's like having a personal computer right on your card that is capable of performing a variety of functions, including card authentication, PIN verification, and information storage, all in a highly secure environment.
For you, having a chip card means that you will have to enter a four-digit Personal Identification Number (PIN) at chip-reading terminals for every transaction, regardless of whether you are paying with a debit or credit card.
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2. When will I receive my chip-embedded MasterCard credit card, Member Card debit card and Global Payment/ChequeWise card?
Currently, chip is only being introduced on CUETS MasterCard credit cards. Prior to receiving your chip credit card, you will receive a PIN in the mail. If you would like to change your PIN once you receive your card, or would like to find out more about chip cards and PINs, visit www.choicerewards.ca/chip or call 1-800-561-7849.
Chip implementation for Member Card debit cards and Global Payment/ChequeWise cards will occur in the near future.
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3. Will I still have a magnetic stripe on my card?
Yes. Your chip card will continue to have the magnetic stripe on the back. This will ensure that you can use your card at retail locations that don't have a chip-reading terminal, as well as in other countries where chip cards and chip-reading terminals are not yet available. If you use your credit card at a retailer that does not have a chip-reading terminal, the magnetic stripe on your card will be swiped and you will be asked to sign a receipt as you have in the past.
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4. What are the benefits of chip technology?
There are many benefits to chip technology including:
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Chip cards are virtually impossible to copy.
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They offer enhanced privacy and additional protection to avoid disclosure of personal information.
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Chip cards and chip terminals work together to ensure a highly secure transaction by validating the card and the cardholder.
The decision to make the shift in Canada has been predominantly led by substantial increases in counterfeit and fraud activity. Chip cards provide extra security and protection from identity theft, counterfeit and fraudulent activity.
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5. Where can I use my chip card?
You can use your chip card at any retail location or Automated Teller Machine (ATM). If the card reading terminal is chip-enabled you will be prompted to enter your four-digit PIN. If you use your credit card at a retailer that does not have a chip-reading terminal, the magnetic stripe on your card will be swiped and you will be asked to sign a receipt as you have in the past.
Chip technology is also being implemented in other areas throughout the world including Europe, Asia, Latin America, the Middle East and Africa.
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6. How do I use my chip card to pay for a purchase?
Making a purchase using a chip credit or debit card is easy and secure. All you have to do is follow these simple steps:
Step 1: Insert your chip card "chip first" into the chip-reader on the terminal.
Note: Your chip card remains in the terminal during the entire transaction.
Step 2: Click OK on the purchase amount. Enter your four-digit Personal Identification Number (PIN) and wait for the transaction to be processed.
Step 3: Remove your chip card after your transaction is Approved. With chip technology you don't have to sign a receipt when you make a purchase, instead you only enter your four-digit PIN.
You can watch a video on how to use a chip card.
If you use your credit card at a retailer that does not have a chip-reading terminal, the magnetic stripe on your card will be swiped and you will be asked to sign the receipt as you have in the past.
Using your chip credit or debit card at an ATM will remain the same; you will still need to enter your PIN to complete the transaction. The PIN that you use is the same for both chip-enabled terminals and ATMs.
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7. Do I enter my PIN when using my credit card for internet purchases?
No. You only enter a PIN while making face-to-face purchases with your credit card. Internet, mail order and telephone order purchases will continue as they currently do.
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8. Do I use the same PIN for ATM cash withdrawals and when making purchases at chip-reading terminals?
Yes, you will use the same PIN.
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9. Will I be able to use my chip card outside of the country?
