What is a chip card?
A chip card is a credit or debit card with an embedded smart chip. It appears as a gold or silver square on the left hand side of the card. Like the magnetic stripe on the back of current credit and debit cards, the embedded microchip securely stores your account details – your account name, number and account expiry date.
Why the change to chip cards?
The microchip has been developed in a joint venture between leading card providers to provide a new global standard in card security. Unlike the magnetic stripe on the back of cards used until now, the microchip is virtually impossible to copy, providing an unrivalled level of protection against counterfeiting, card skimming and other fraudulent use.
When will the upgrade happen?
In a unified global push against card fraud, Visa has requested that all Visa card issuers will only supply their customers with chip cards from January 2010. In Australia, we have already started upgrading debit and credit cards to contain the microchips.
Do chip card transactions work the same way?
No, it’s a little bit different. On chip enabled POS terminals, instead of swiping your card, you will soon be asked to insert your card into the chip terminal. Your card remains in the terminal throughout the transaction you will be requested to confirm your identity by entering your PIN. Once your PIN is confirmed and the transaction has been processed, you will be prompted to remove your card from the terminal.
What will be different when I use my new chip card?
As with payment cards, payment terminals are also being upgraded to support chip processing across Australia.
You can use your new Visa chip card the same way you do your current card – just swipe your card and sign the receipt to authorise the transaction. However, in the near future as merchants across Australia update their payment terminals to chip processing technology, there will be slight differences to the way your payment is processed.
1. Your chip card will be inserted into the payment terminal
2. The card will remain in the terminal throughout the transaction process.
3. You can either enter your PIN or sign the generated receipt to authorise the transaction.
4. The card will be removed once the transaction is complete.
The merchant will of course guide you through this process.
Can I still use my magnetic stripe cards?
Yes, magnetic stripe cards can still be used at all payment terminals in Australia and you can either sign or use your PIN to authorise the transaction.
Can my new chip card still be used at ATMs? Yes. All Visa cards can still be used at ATMs in the same way they are currently used.
Will I need a new PIN?
If your new card expires December 2009 onwards, a new Visa chip card will be issued and will be linked toyour existing PIN
If I have forgotten my PIN or would like to change it, can I request a new one?
If you cannot remember your original PIN, a new card and PIN will need to be ordered as PIN change facilities are not currently available for chip cards. Costs may apply.
What about travelling overseas?
Chip technology is already in use in many countries around the world so if you are travelling overseas you need to memorise and use your PIN as this is the preferred, safer option for cardholders and most merchants.
Can my new Visa chip card be used for online shopping?
Yes, of course. It’s still important you use your card with some caution when shopping online. Only shop on secure and reputable websites and take advantage of initiatives such as Verified by Visa to protect your card details.
How do I activate my Visa chip card?
When you receive your new Visa chip card, call us on 1800every1 (1800 383 791) or visit any branch to activate your card. You should sign the back of your new card immediately and destroy your old card.
Any further questions?
Should you have any further questions about the upgrade to chip card technology, you can Contact Us.
About Us
