“The State Bank is currently rolling out EMV cards. EMV Chip Technology helps protect your card!”
Improved Fraud Protection
Debit card fraud continues to increase, which is why the industry is moving to chip. When used at a chip card reader, the new chip on your card makes it harder for criminals to steal transaction information that’s used to create a counterfeit card.
When you pay with a chip card, that transaction is not only strongly encrypted, but also assigned a one-time code that is no longer valid after the payment is received. Because of this, chip card numbers are a lot harder to steal using point-of-sale (POS) skimmers or any other tactic, as the information on the chip is constantly changing. Since this is the case, it also means that if your payment information is leaked in a data breach, the hacker is less likely to use your information for fraudulent transactions because the information they’ll have is no longer valid.
World Wide Acceptance
Many countries have embraced chip technology — resulting in less counterfeit card fraud. Now, chip card readers have become the standard in over 130 countries around the world. So you can use your card with confidence around the corner or across the globe.
*It should be noted that while these chip cards can help reduce card fraud, they cannot completely eliminate it.
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