FAQ - EMV Chip Card Technology Questions
EMV - stands for Europay, MasterCard and Visa and is sometimes also referred to as smart card or chip card. EMV originated as a joint effort among the three companies as a way to improve payment safety through better card security and improved standards.
EMV chip-enabled cards contain a small, metallic square that is a computer chip. Due to security in the chip, every transaction you make is unique, which makes it extremely difficult for the card to be copied or counterfeited. Your chip card will also have the magnetic stripe on the back so that you can use your card anywhere MasterCard is accepted, even if a merchant does not have a chip-enabled terminal.
Chip technology is already used in other countries and now in the United States. Your new chip card provides an extra level of security and is more widely accepted at international locations.
Your Gate City Bank ATM and Check Card has chip and magnetic strip technology. That means, regardless of what type terminal a merchant has, you’ll be able to use your card anywhere MasterCard is accepted.
At retailers with chip-enabled terminals: Insert your card (see pictures below) and follow the prompts on the terminal
At retailers without chip terminals: Swipe your card using the magnetic strip on the back of your card
Over the phone or online: Provide your card information to the retailer when you’re ready to make a purchase
Insert your card "chip first" into the chip terminal. IMPORTANT: With chip transactions, your card remains in the terminal throughout the transaction.
Follow the prompts on the terminal and wait for the transaction to be processed.
When prompted by the payment terminal, you may remove your card after the transaction is completed.
The embedded microchip provides dynamic transaction security features and other capabilities not possible with traditional magnetic stripe cards. A chip card is extremely difficult to counterfeit and will make it much harder for criminals to successfully profit from data that they steal.
A chip card looks just like a traditional card with an embedded chip in addition to the standard magnetic stripe on the back of the card. Rather than swiping your card, you will insert your chip card into the card terminal to complete the transaction.
When you use your chip card to make a payment at a chip-enabled terminal, your card can be instantly identified as making an authentic payment belonging to you using dynamic authentication. This means that the computer chip in your card creates a unique transaction code that cannot be used again. This stops criminals from being able to successfully create counterfeit chip cards.
Although chip cards are relatively new in the United States, they have been used elsewhere for many years. In some countries, particularly in Europe, merchants may be more familiar with chip cards and may prefer to accept chip cards when accepting payment.
Use your chip card at the exact same merchants you do now—by inserting the card into card terminals that are chip-enabled or swiping your card at merchant locations that have not yet switched to chip-enabled card terminals. You can also use your card for online payments, telephone payments, and at ATMs.
If you are receiving a re-issued card (with the same numbers on the front), your PIN will remain the same. If you forgot what your PIN is or want to change your current PIN, please call customer service at (800) 423-3344 or visit your local Gate City Bank location to request a new one. If you are receiving a Gate City Bank ATM and Check Card for the first time, and have not customized your PIN, you will receive your PIN within two business days.