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EMV Chip-Enhanced Cards

FREQUENTLY ASKED QUESTIONS


What is EMV?
The terms “EMV” and “chip card” are often used interchangeably. EMV is an open-standard set of specifications for chip card payments and terminals. Europay, MasterCard and Visa (EMV) developed the specifications to ensure operational technologies between chip-based payment cards and terminals operate successfully.

What is a chip-enhanced card?
A chip-enhanced card contains an embedded microchip. The microchip holds encrypted information, making it extremely difficult for the card to be copied or counterfeited. Rather than swiping the card, it needs to be inserted into a chip-enabled terminal to complete a transaction. In addition to having the embedded microchip, the chip card will still have a magnetic stripe on the back, allowing you to continue making purchases by swiping the card at merchants who have not yet switched to chip-enabled terminals.

When will I receive my FORUM Credit Union EMV chip-enhanced card?
All new FORUM MasterCard® Credit Cards are EMV chip-enhanced cards. If you are a current cardholder, when your card expires, we’ll automatically replace it with an EMV card.

Where can I use the chip card?
You can use chip cards at any merchant that accepts MasterCard. The card is inserted into terminals that are chip-enabled or swiped at merchant locations that have not yet switched to chip-enabled terminals. You can also continue using the card for online and telephone payments as before.

How do I make a transaction with my new card?
When making a transaction with your new chip-enhanced card, it’s important to leave the card in the terminal until the transaction is complete. (If you remove the card too soon, the transaction will end and your purchase will not be processed.)

1. Insert your card with the chip facing up.
2. Leave the card in the terminal while completing the transaction.
3. Follow the prompts on the terminal’s screen.
4. When your transaction is complete, you will be prompted to remove your card.

At restaurants, a portable terminal may be brought to your table. Remember, if a chip terminal is not available, you will still be able to make purchases by swiping your card.

Can I use my card for contactless or “tap and go” purchases?
As indicated by the contactless symbol on your FORUM MasterCard® Credit Card, the card can now be used where contactless cards are accepted. For smaller dollar purchases, simply tap near the terminal versus inserting into the terminal. If a merchant does not have this functionality, you will need to insert the card into the terminal and follow the prompts to complete the transaction.