NEW EMV CHIP TECHNOLOGY - VISA CARDS

Queensland Professional Credit Union is introducing new chip technology in our Visa Debit cards. Chip technology is part of Visa’s global introduction of anti-fraud measures.

Members will enjoy improved card security and functionality with the introduction of EMV (Europay, Mastercard and Visa) chip technology on their Visa Debit Cards.   We have taken this opportunity to update the appearance of our Visa Debit card. The card has a new fresh look to it and makes the details easier for you to read.

You will notice your new Visa Debit card is embedded with a microchip. This provides you with a dramatic increase in overall banking security.

Compared to existing magnetic stripe cards the utilisation of chip technology means card data is more secure as it can protect against the ‘skimming’ or copying of the contents on the magnetic stripe.

You can also have extra confidence when using your chip-enabled card to make purchases overseas. The new chip technology means your confidential information is now encrypted on the chip offering significantly more security than cards with only a magnetic stripe. 

HOW THE CHANGES WILL AFFECT YOUR VISA CARD

EFTPOS - POINT OF SALE PURCHASES

In some instances your Visa card will be used the same way as you currently use it. The card is swiped through the in-store payment terminal and you then sign the receipt or enter your PIN to authorise the transaction.
Some businesses have updated their terminals to incorporate the new chip technology. In these instances you will insert your card into the in-store payment terminal from below and leave it inserted for the entire transaction. If you use a PIN you will need to key in the PIN before removing your card. If you do not use a PIN you will still be required to sign the receipt to authorise the transaction after your card has been removed.

ATM MACHINES

There will be no changes to the way you use your Visa card at an ATM.

HOW DOES THE CHIP PROVIDE ADDITIONAL SECURITY?

Chip cards are able to store your personal information in an encrypted format, making it harder to access the details. This significantly helps to protect the cardholder from counterfeit fraud, as the details on the chip cannot be easily acquired. 

WHAT INFORMATION DOES THE CHIP CONTAIN?

The chip embedded in your new Visa card does not store any additional personal information and only stores the data previously held on the magnetic stripe on the back of your card (eg. cardholder name, card number and expiry date).

ARE YOU TRAVELLING OVERSEAS?

As chip technology is rapidly becoming the global standard any Credit Union member planning to use their debit card overseas should call the Credit Union and ask to have their chip-enabled Visa card sent to them before they travel.

For further information on chip cards please visit

www.visa-asia.com/ap/au/cardholders/security/chip_technology.shtml

If you require any further information on your new EMV chip-enabled Visa card please call us on (07) 3114 5099